A spokesman for the Russian government said Monday he hopes that jailed executives from private equity firm Baring Vostok Capital Partners will be released, describing the continuing fraud case against them as unfortunate.

Dmitry Peskov, a spokesman for president Vladimir Putin, said in an interview with the state TV channel RT that he was “very sorry” about the case, which saw US investor Michael Calvey and three of his colleagues arrested in February and charged with embezzling 2.5bn rubles ($38.9m) from Vostochny Express Bank, in which Baring Vostok has a controlling stake.