US investor Michael Calvey leaves Russia with suspended sentence - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

US investor Michael Calvey leaves Russia with suspended sentence

MOSCOW, Mar 24 (PRIME) -- U.S. investor Michael Calvey, who received a suspended sentence for embezzlement of 2.5 billion rubles, left Russia before the sentence came into force, a source told PRIME on Friday.

УCalvey and (second convicted Frenchman Philippe) Delpal left Russia immediately after the preventive measure was lifted. Now they are in their countries,Ф the source said.

Calvey plans to return to Russia to consider his appeal against the sentence, his lawyer Timofei Gridnev said.

DelpalТs lawyer also said that the convicted would come if he received a visa.

In February 2019, the Basmanny District Court of Moscow arrested Calvey and five other defendants over embezzlement from Orient Express Bank. In April of the year, Calvey was released under home arrest.

Investigators believed that Calvey, his business partner Delpal, and several other managers convinced shareholders of Orient Express Bank to vote for a compensation agreement to receive a 59.9% in International Financial Technology Group (IFTG) instead of money. The shares were valued at 3 billion rubles under the deal, while their real value amounted to 600,000 rubles.

In August 2021, the Meshchansky District Court of Moscow slapped a 5.5-year suspended sentence on Calvey and a 4-year suspended sentence on Delpal for embezzlement of 2.5 billion rubles.

(76.3072 rubles Ц U.S. $1)

End

24.03.2023 12:06
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 104.3024 +0.2403 05 oct
USD 99.4555 +0.1878 05 oct
Stock Market Indices
1D 1W 1M 1Y
MICEX
micex 3154.97 +0.35 18:50 04 oct
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 165.50 -0.75 18:27 04 oct
lkoh 6740.00 -0.21 18:27 04 oct
rosn 543.10 +0.78 18:27 04 oct
sber 258.85 -0.31 18:27 04 oct
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 104.1000 +0.3475 14:59 04 oct
USDTD 99.6875 +0.4300 17:44 04 oct