MOSCOW—A Russian court docket handed American private-equity investor Michael Calvey a suspended sentence of 5½ years for embezzlement, a day after a choose dominated that he was responsible in a case that galvanized the worldwide enterprise group for greater than two years.
Six of Mr. Calvey’s associates, who had been additionally convicted, acquired varied lesser sentences.
On studying the sentence, Choose Anna Sokova informed Moscow’s Meshchansky district court docket Friday that the court docket 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 12 months suspended sentence contains 5 years of probation, which means if Mr. Calvey doesn’t break the regulation for the following 5 years, his sentence could be thought of served, the court docket stated.
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.