
US investor, founder of the Baring Vostok investment fund, Michael Calvey in Moscow, Russia.
The former head of Baring Vostok, a $3.7-billion investment firm he founded, Calvey was accused of overstating the value of an asset as part of a financial transaction and misappropriating funds worth 2.5 billion rubles ($34.2 million).
A judge at the Meshchansky Court in the Russian capital found him and his French business partner, Philip Delpalle, guilty of the charges in Thursday's hearing. Prosecutors are seeking a six-year suspended prison sentence for Calvey, and five years for Delpalle. Other members of the fund's top team are facing similar terms.














Comment: Calvey trying to spin a not guilty ruling as being 'good for business' for Moscow is a rather slimy tactic which only makes him seem more guilty.
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