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Eastern Europe

Russia Hands U.S Investor Calvey Suspended Sentence

Image by Олег Яковлев / РБК

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American investor Michael Calvey has been handed a five-and-a-half year suspended sentence after being found guilty of embezzlement in a highly controversial case that has rocked Russia’s business world. 

The star American investor was first detained in February 2019 on charges related to loans issued by a bank owned by his Baring Vostok fund in 2015. 

His arrest and trial sparked uproar across Russia’s investment and business community, with several top Russian entrepreneurs and Kremlin insiders speaking out in his support. Those included Sberbank CEO German Gref and Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF)…

To read more visit The Moscow Times.

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