Russian court hands suspended sentence to US investor
ABC News
A court in Moscow has convicted a prominent U_S_ investor on charges of embezzlement and handed him a suspended sentence, a verdict he deplored as “deeply unfair.”
MOSCOW -- A court in Moscow convicted a prominent U.S. investor on charges of embezzlement and handed him a suspended sentence on Friday, a verdict he deplored as “deeply unfair.” Michael Calvey was accused of embezzlement from the Russian bank Vostochny, in which his investment firm Baring Vostok had 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. “I view the verdict as unfortunate and deeply unfair,” he said after the verdict, adding that he would meet with his lawyers to decide on his next steps over the following week.More Related News