Russia hands U.S. investor Calvey 5.5-year suspended sentence

  • 8/6/2021
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MOSCOW (Reuters) - A Russian court on Friday handed U.S. investor Michael Calvey a 5.5-year suspended sentence for embezzlement, a day after finding him guilty, Interfax news agency reported, in a case that has rattled Russia’s business community. Calvey, the founder of Russia-focused private equity group Baring Vostok, was detained along with other executives in early 2019 on charges of embezzlement linked to mid-sized lender Vostochny. He and the executives deny the charges. Reporting by Maria Tsvetkova; Editing by Leslie Adler Our Standards: The Thomson Reuters Trust Principles.

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