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Moscow Court Says 1st Appeal Filed in Baring Vostok Case

© AFP 2023 / ALEXANDER NEMENOVUS investor Michael Calvey, the head of investment company Baring Vostok, detained on fraud charges, attends an appeal hearing over the extention of his house arrest in Moscow on February 10, 2020.
US investor Michael Calvey, the head of investment company Baring Vostok, detained on fraud charges, attends an appeal hearing over the extention of his house arrest in Moscow on February 10, 2020. - Sputnik International, 1920, 11.08.2021
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MOSCOW (Sputnik) - Alexander Tsakunov, the former investment director at the Vostochny Bank and one of the people sentenced in the Baring Vostok embezzlement case, has become the first one to appeal his sentence, Moscow's Meshchansky District Court said on Wednesday.
Last week, Baring Vostok fund founder Michael Calvey was handed a suspended sentence of 5.5 years. All the other defendants received suspended sentences as well.
"The court has received an appeal from Alexander Tsakunov," the court said.
Philippe Delpal, another sentenced person in the case, has also promised to appeal the court decision, while Calvey will make his mind upon reading the text of his sentence.
The case of the Baring Vostok investment fund was considered by the court since December 2020. The fund participants were eventually charged with embezzling 2.5 billion rubles ($34 million), as they had persuaded the Vostochny Bank shareholders to approve a fraudulent deal and offered the overpriced shares.
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