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Moscow — Russian investigators have asked a court in Moscow to free detained US investor Michael Calvey from custody at a hearing later this week and to place him under house arrest instead, the court said on Wednesday. The detention in February of Calvey, founder of the Baring Vostok private equity group, on embezzlement charges which he denies, has rattled some foreign investors and politicians in Russia, who said it had a chilling effect on the business climate. Russian courts agree in most cases with prosecutors’ recommendations about whether suspects should be detained before trial, so there is a strong possibility Calvey will be allowed out of jail on Thursday. The court said in a statement that investigators had submitted documents ahead of court hearings on Thursday in which they asked for Calvey and another detained suspect, Alexey Kordichev, to be put under house arrest. That is a U-turn by investigators, who brought the charges against Calvey and his co-accused and had in...

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