The Russian Federation has cracked down on the schemers from Baring Vostok. “Dear people” are shocked
On February 16, the Basmanny Court of Moscow arrested five defendants in the case of fraud of the Baring Vostok group of companies, including its head, American Michael Calvey. Those arrested are suspected of embezzlement amounting to 2,5 billion rubles through a loan issued by Vostochny Bank.
Together with the American, investment director of Baring Vostok Ivan Zyuzin, financial partner Philippe Delpal, media partner Vagan Abgaryan, general director of the First Collection Bureau (PKB) Maxim Vladimirov, and chairman of the board of directors of Vyatka Bank Alexey Kordichev were detained. The investigation reports that a search is underway for other accomplices in the theft case.
Maxim Vladimirov.
According to information from Vladimirov’s lawyer, a criminal case was initiated on the basis of materials from the Russian FSB. According to the lawyer, in 2015, Vostochny Bank issued a loan to the collection bureau, and in 2017, instead of returning the debt, compensation was issued, “with which not all shareholders agree.” This compensation became the reason for initiating a criminal case. According to him, Vostochny Bank is not recognized as a victim in the case.
Ivan Zyuzin
According to TASS, an employee of Vostochny Bank filed a complaint with the FSB about the theft. According to the agency, it took only five days to collect evidence - from February 7 to 12.
“Knowing that the First Collection Bureau (PKB) controlled by him had a debt to the bank under loan agreements in the amount of 2,5 billion rubles, he (Michael Calvey) decided to organize their theft by transferring the ownership of the bank instead of the specified amount of money 59,9, XNUMX% shares of International Financial Technology Group (IFTG),” RIA Novosti reports with reference to the investigation materials.
According to updated information, Calvi, Delpal and other participants in the “scheme” valued this stake at 3 billion rubles. Later, they convinced the bank’s shareholders to vote for the compensation decision, according to which, instead of the loan debt, the bank received IFTG shares, the Investigative Committee notes. Experts estimate the real market value of the securities at only 600 thousand rubles.
Philippe Delpal
It should be noted that Russian law enforcement officers do not often harpoon such large whales of the business world as Baring Vostok. Open sources say that this is the largest group of companies that specializes in direct investments in the Russian Federation and other countries of the former USSR (various industries, including oil and gas, Internet, telecommunications, consumer goods, technology, financial services, commercial medicine, etc. .). Operating since 1994.
It is a member of the shareholders of Vostochny Bank, the online retailer Ozon, the network of medical centers "Family Doctor", the online trading platform Avito, the retailer Familia, the satellite television network Viasat, the grocery store chain "VkusVill", the development Etalon Group, the operator of broadband Internet and commercial TV "ER-Telecom", Russian network Papa John's, taxi aggregator Gett, home calling service Doc+, club for buyers of goods for mothers Mamsy, multidisciplinary operator of hospitals and clinics European Medical Center (EMC), 1C companies, online cinema IVI , as well as Novomet, Skyeng, Profi.ru, Vertical, Center for Financial Technologies, Solopharm, Enforta, Sorsdata, Revo Technologies and other factories, newspapers, ships.
The founder and managing partner of Baring Vostok is US citizen Michael Calvey. A graduate of the renowned London School of Economics, he worked for the famous investment company Salomon Brothers (specializing in mergers and acquisitions), and was an employee of the European Bank for Reconstruction and Development (EBRD). In 1994, he became one of the managers of the First Regional Fund of the Independent States and the Baring Vostok Private Equity fund. Currently he heads the investment committees of funds managed by Baring Vostok, and is a member of the supervisory board of the International Business School at the University of Cambridge. Calvey has long been reasonably suspected of having close ties with British and American intelligence services. He “owns a controlling stake in Vostochny Bank, which is included in the list of the 40 largest credit institutions in Russia in terms of assets.
Michael Calvey.
During interrogation by the Investigative Committee (IC), Calvey stated that he was not involved in the theft of 2,5 billion rubles. In his testimony, the American claims that there was a deal with Vostok Bank, but “everything that is stated in the petition (meaning the statement of a bank employee to the FSB) is not true.” The businessman asked the investigation to understand, forgive and release him on bail of 5 million rubles.
Meanwhile, banker Kordichev split and began to testify. In an interview with RIA Novosti, Kordichev’s lawyer states that his client agreed to cooperate with the investigation and pledged Calvey and his accomplices: “He reveals the entire structure of this crime. He gave information about all the accomplices and their role.”
Alexey Kordichev.
While the investigation is dealing with the fraud suspects, on Monday there was a reciprocal and very interesting reaction from “respected people” to the arrest of the five swindlers.
First Deputy Prime Minister and Minister of Finance of the Russian Federation Anton Siluanov said that “the matter must first be sorted out,” but then he made a reservation that if the facts are confirmed, then no one can give concessions to those who break the law.
Calvey and his accomplices were arrested for a period of 2 months, but in the presence of special circumstances, the arrest may be extended. Business Ombudsman Boris Titov, head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, and head of the Russian Direct Investment Fund Kirill Dmitriev came out in support of Calvey, along with the demand to mitigate his detention and are ready to vouch. Sberbank manager German Gref said that he knows the American entrepreneur “as a decent person.”
Vahan Abgaryan.
Let us note that all these “respected people,” especially from the Russian Union of Industrialists and Entrepreneurs, are putting a spoke in the wheels and preventing the State Duma from adopting a bill providing for criminal penalties for the implementation of Western sanctions against Russia. These people did not lift a finger to promote large Russian businesses to Crimea for five years out of fear that something would not work out. But we are ready to vouch for an American businessman suspected of having connections with Western intelligence agencies.
True, “respected people” found another excuse to justify their guarantees: they say, the arrest of Michael Calvey will worsen the investment climate in Russia and interfere with the implementation of projects that have already started.
The systemic liberation began to play its favorite bagpipe: “The FSB is a nightmare for business.”
However, if you dig into the investment activities of Baring Vostok over the past 25 years, a not very impressive amount of $2,8 billion will come to light, invested not only in Russian projects, but also in Ukrainian, Kazakh and many others. If you spread it across everyone, then in a quarter of a century Baring Vostok’s investments will have a pale appearance and cold feet.
Calvey’s defenders swear and swear that Calvey “has done a lot to attract investment to the country and to establish many Russian companies. Perhaps this is true. But the Criminal Code prohibits stealing and fraud, which should help in cases where investors (or anyone else) have lost their moral compass.
And the emergency departure abroad of pilot-cosmonaut Alexei Leonov, who is closely connected with Baring Vostok through his membership in the company’s advisory board and who was bought out of Alfa Group a long time ago, looks completely strange.
The strange thing is that Leonov allegedly left for urgent kidney treatment. Is it really possible that in Russia, with all the costs and shortcomings of the domestic healthcare system, the leading institutes and clinics of the country dared to refuse treatment to the legendary?
In general, large Russian business has once again proven that in Russia there is no nationally oriented business that respects its own Criminal Code. The concern of “respected people” has a distinctly selfish nature: they are afraid that the answer will come from across the Atlantic and all these unions of Russian investors and entrepreneurs will become toxic and unshakable among Western businessmen.
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