Home » Michael Calvey Given 5½-Year Suspended Sentence for Embezzlement in Russia

Michael Calvey Given 5½-Year Suspended Sentence for Embezzlement in Russia

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MOSCOW—A Russian courtroom handed American private-equity investor Michael Calvey a suspended sentence of 5½ years for embezzlement, a day after a decide dominated that he was responsible in a case that galvanized the worldwide enterprise group for greater than two years.

Six of Mr. Calvey’s associates, who had been additionally convicted, obtained varied lesser sentences.

On studying the sentence, Choose Anna Sokova instructed Moscow’s Meshchansky district courtroom Friday that the courtroom discovered the testimony of Mr. Calvey and his co-defendants “far-fetched and truthful solely to the extent that they don’t contradict different investigated proof.”

The 5½ yr suspended sentence consists of 5 years of probation, which means if Mr. Calvey doesn’t break the regulation for the subsequent 5 years, his sentence can be thought of served, the courtroom mentioned.

Russian prosecutors had sought a six-year suspended sentence for Mr. Calvey, founder and senior companion at Baring Vostok Capital Companions and a outstanding advocate for Western funding in Russia, who was arrested in February 2019 alongside together with his associates on costs of defrauding lender Vostochny Financial institution of two.5 billion rubles, the equal of round $32 million on the time.

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