World

US Investor Michael Calvey Sentenced to Suspended Term Reportedly Leaves Russia

MOSCOW (Sputnik) - US investor and Baring Vostok investment fund founder Michael Calvey, who was sentenced to a 5.5-year suspended term for embezzlement, has left Russia, a source told Sputnik on Friday.
Sputnik
Calvey's lawyer later said that his client plans to return to Russia for the consideration of his complaint if he is granted a visa.
Michael Calvey was taken into custody in 2019 along with other executives of the private equity firm, Baring Vostok. He was charged with embezzling 2.5 billion rubles (nearly $34 million) from Russia's Vostochny Bank.
Russia
Moscow City Court Releases Baring Vostok Top Manager Delpal on House Arrest
In 2021, a Moscow court handed Calvey a five-and-a-half-year suspended sentence. His business partner, French banker Philippe Delpal, was given a suspended sentence of four years and six months. According to sources, he also left Russia.
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