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Tags: Russia | US Investor's Trial

Russian Court Hands Suspended Sentence to US Investor

Russian Court Hands Suspended Sentence to US Investor

Friday, 06 August 2021 04:00 PM

MOSCOW (AP) — A court in Moscow convicted a prominent U.S. investor on charges of embezzlement and handed him a suspended sentence on Friday.

Calvey was accused of embezzlement from the Russian bank Vostochny, in which his investment firm Baring Vostok has a controlling stake. He denied any wrongdoing.

The Meshchansky District Court in Moscow gave Calvey a 5 1/2-year suspended sentence. Prosecutors have asked for a six-year suspended sentence.

Calvey spent about two months in jail after his arrest in February 2019 before being placed under house arrest and then released last fall.

Calvey’s company is one of the largest foreign investment firms in Russia and his arrest dented investors’ confidence in Russia.

Calvey said during the trial that his acquittal would help draw new foreign investors to Russia.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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A court in Moscow convicted a prominent U.S. investor on charges of embezzlement and handed him a suspended sentence on Friday.Calvey was accused of embezzlement from the Russian bank Vostochny, in which his investment firm Baring Vostok has a controlling stake. He denied...
Russia,US Investor's Trial
129
2021-00-06
Friday, 06 August 2021 04:00 PM
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