"These accusations about Baring Bostok and about myself are not true," the 51-year-old said, adding that he would cooperate fully with any probe. Investigators asked for Calvey to be held until at least April 13, without bail, as he is a frequent traveller with "considerable resources".
The firm said in a statement that the charges related to a commercial dispute over a Russian bank. "Baring Vostok believes that the detention of its employees and the charges that have been brought are a result of a conflict with other shareholders of Vostochniy Bank," it said. "We have full confidence in the legality of our employees' actions and will vigorously defend their rights."
The firm earlier confirmed that four of its employees had been detained, without providing their names. Among them was French citizen Phillipe Delpal, who oversees investments in the financial industry for Baring Vostok. "I strongly object to the request for a detention," Delpal said at a separate detention hearing. "I have no connection with the alleged crime." Delpal said he had lived in Moscow for the last 15 years, and has a wife and two daughters in the city.