MOSCOW—A Russian courtroom handed American private-equity investor Michael Calvey a suspended sentence of 5½ years for embezzlement, a day after a decide dominated that he was responsible in a case that galvanized the worldwide enterprise neighborhood for greater than two years.
Six of Mr. Calvey’s associates, who have been additionally convicted, obtained varied lesser sentences.
On studying the sentence, Decide Anna Sokova instructed Moscow’s Meshchansky district courtroom Friday that the courtroom discovered the testimony of Mr. Calvey and his co-defendants “far-fetched and truthful solely to the extent that they don’t contradict different investigated proof.”
The 5½ yr suspended sentence contains 5 years of probation, that means if Mr. Calvey doesn’t break the regulation for the following 5 years, his sentence can be thought of served, the courtroom mentioned.
Russian prosecutors had sought a six-year suspended sentence for Mr. Calvey, founder and senior associate at Baring Vostok Capital Companions and a outstanding advocate for Western funding in Russia, who was arrested in February 2019 alongside along with his associates on prices of defrauding lender Vostochny Financial institution of two.5 billion rubles, the equal of round $32 million on the time.