Russian Court Hands Suspended Sentence to US Investor

Russian Court Hands Suspended Sentence to US Investor
Founder of the Baring Vostok investment fund Michael Calvey speaks to journalists as he leaves a court room after a hearing in Moscow, Russia, on Aug. 5, 2021. Alexander Zemlianichenko /AP Photo
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MOSCOW—A court in Moscow convicted a prominent U.S. investor on charges of embezzlement and handed him a suspended sentence on Friday, a verdict he deplored as “deeply unfair.”

Michael Calvey was accused of embezzlement from the Russian bank Vostochny, in which his investment firm Baring Vostok had a controlling stake. He denied any wrongdoing.