https://sputnikglobe.com/20210806/us-investor-calvey-receives-5-years-6-months-of-suspended-sentence-1083546236.html
US Investor Calvey Receives 5 Years 6 Months of Suspended Sentence
US Investor Calvey Receives 5 Years 6 Months of Suspended Sentence
Sputnik International
A Moscow court has given American investor Michael Calvey a suspended sentence of five-and-a-half years in prison after being found guilty on embezzlement... 06.08.2021, Sputnik International
2021-08-06T19:43+0000
2021-08-06T19:43+0000
2021-08-06T20:08+0000
world
newsfeed
us
business
investor
sentence
embezzlement
russia
https://cdn1.img.sputnikglobe.com/img/107247/72/1072477201_0:79:1920:1164_1920x0_80_0_0_8803af6d39644c59b48fac3aad98ca30.jpg
Calvey, who founded private equity group Baring Vostok, was arrested in 2019 alongside other executives on charges of embezzling 2.5 billion rubles (nearly $34 million) from Russia's Vostochny Bank.When US President Joe Biden met with Russian President Vladimir Putin in Geneva, Switzerland, in June, he suggested Calvey's prosecution had put a damper on American businessmen's interest in doing business in Russia. US Ambassador to Russia John Sullivan has also condemned Calvey's charges, saying it was "clearly a private business dispute."In addition to Calvey, French banker Philippe Delpal, a partner in the firm, was given a suspended sentence of four years and six months.
russia
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
2021
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
newsfeed, us, business, investor, sentence, embezzlement, russia
newsfeed, us, business, investor, sentence, embezzlement, russia
US Investor Calvey Receives 5 Years 6 Months of Suspended Sentence
19:43 GMT 06.08.2021 (Updated: 20:08 GMT 06.08.2021) A Moscow court has given American investor Michael Calvey a suspended sentence of five-and-a-half years in prison after being found guilty on embezzlement charges. The crime is punishable by up to 10 years in prison in Russia.
Calvey, who founded private equity group Baring Vostok, was arrested in 2019 alongside other executives on charges of embezzling 2.5 billion rubles (nearly $34 million) from Russia's Vostochny Bank.
“The court found [the defendants] committed embezzlement, that is, theft of property entrusted to the accused, using their official position, on an especially large scale,” Judge Anna Sokova of Moscow's Meshchansky District Court announced on Thursday.
When US President Joe Biden met with Russian President Vladimir Putin in Geneva, Switzerland, in June, he suggested Calvey's prosecution had put a damper on American businessmen's interest in doing business in Russia. US Ambassador to Russia John Sullivan has also condemned Calvey's charges, saying it was "clearly a private business dispute."
In addition to Calvey, French banker Philippe Delpal, a partner in the firm, was given a suspended sentence of four years and six months.
