Russian court hands suspended sentence to US investor
A court in Moscow has convicted a prominent U.S. investor on charges of embezzlement and handed him a suspended sentence
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.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.