MOSCOW—A Russian courtroom discovered American private-equity investor Michael Calvey responsible of embezzlement greater than two years after he was arrested in a case that shook the international enterprise group and exacerbated U.S.-Russia tensions.
The courtroom delayed sentencing the businessman, who is called a outstanding advocate for Western funding in Russia, and mentioned that course of would proceed Friday. Six of his associates have been additionally declared responsible.
“The courtroom discovered [the defendants] dedicated embezzlement, that’s, theft of property entrusted to the accused, utilizing their official place, on an particularly giant scale,” Decide Anna Sokova advised Moscow’s Meshchansky district courtroom Thursday.
Russian prosecutors had sought a six-year suspended sentence for Mr. Calvey, founder and senior accomplice at Baring Vostok Capital Companions who was arrested alongside along with his associates on costs of defrauding lender Vostochny Financial institution of two.5 billion rubles, equal to round $32 million.
Thursday’s judgment in opposition to Mr. Calvey got here after Decide Sokova spent round six hours studying particulars of the decision, an unlimited doc together with testimony of witnesses and defendants from hearings within the case.