Michael Calvey, the founder of the investment company Baring Vostok, an American citizen convicted of embezzlement in Russia, has pleaded not guilty and insists on his innocence. This was reported by Interfax his lawyer Timofey Gridnev.
However, the Second Supreme Court of Appeals reported that the decision to reduce the sentence of the businessman was made due to additionally identified mitigating circumstances, full admission of guilt in embezzlement of 2.5 billion rubles and remorse for the crime. American’s punishment cut off Probation for up to 4 years and 4 months.
According to Gridnev, the appeal did not affect the substance of the sentence, but raised the issue of reducing the sentence and probation in connection with Calvey’s personality, and the court partially joined the defense.
On August 6, 2021, the Moscow Meshchansky Court sentenced Michael Calvey to a five and a half year suspended sentence for embezzlement; In 2022, the Moscow City Court commuted the sentence to four and a half years with a four-year probationary period.
It was previously reported that Baring Vostok. Sold The largest collection agency in the Russian Federation for Russian investors.