On Thursday, a Russian state prosecutor urged a court to sentencing U.S. investor Michael Calvey to a six-year suspended criminal conviction, while the accused asked the court to dismiss an embezzlement case and declare him not guilty, Reuters reports.
Calvey, the founder of the Russia-focused private equity firm Baring Vostok, was arrested in early 2019 along with other employees on embezzlement accusations related to the mid-sized lender Vostochny. He and the other executives reject the claims.
The imprisonment of the Wisconsin-born investor shook Russia’s business world, prompting numerous high-ranking officials and businesspeople to express worries about the government’s …
