Russian suspect in Baring Vostok fraud case admits guilt - Interfax

A Russian banker accused of fraud along with executives from the Baring Vostok private equity fund, has admitted his guilt, Interfax news agency reported, citing a judge reading from investigators' case files at a hearing in Moscow on Thursday.

The court released Kordichev from pre-trial detention and put him under house arrest. He is a former chairman of Vostochny bank, which is co-owned by Baring Vostok.

Also on Thursday, the court granted house arrest to Baring Vostok founder Michael Calvey. A U.S. citizen, Calvey denies embezzlement charges and says they are being used to pressure him in a corporate dispute over control of Vostochny bank. (Reporting by Vladimir Soldatkin Writing by Polina Nikolskaya Editing by Christian Lowe)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)