Copyright 2021 The Associated Press. All rights reserved

Founder of the Baring Vostok concern money Michael Calvey speaks to journalists arsenic helium leaves a tribunal country aft a proceeding successful Moscow, Russia, Thursday, Aug. 5, 2021. Calvey was accused of embezzlement from the Russian slope Vostochny, successful which his concern steadfast Baring Vostok has a controlling stake, charges helium denied. (AP Photo/Alexander Zemlianichenko)

MOSCOW – A tribunal successful Moscow convicted a salient U.S. capitalist connected charges of embezzlement and handed him a suspended condemnation connected Friday.

Calvey was accused of embezzlement from the Russian slope Vostochny, successful which his concern steadfast Baring Vostok has a controlling stake. He denied immoderate wrongdoing.

The Meshchansky District Court successful Moscow gave Calvey a 5 1/2-year suspended sentence. Prosecutors person asked for a six-year suspended sentence.

Calvey spent astir 2 months successful jailhouse aft his apprehension successful February 2019 earlier being placed nether location apprehension and past released past fall.

Calvey’s institution is 1 of the largest overseas concern firms successful Russia and his apprehension dented investors’ assurance successful Russia.

Calvey said during the proceedings that his acquittal would assistance gully caller overseas investors to Russia.

Copyright 2021 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.