This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/russia/531262-calvey-hope-sentencing-moscow/

The article has changed 4 times. There is an RSS feed of changes available.

Version 2 Version 3
‘Hope dies last’: American financier Calvey speaks after being found guilty of embezzlement in Russian court & awaiting sentencing ‘Hope dies last’: American financier Calvey speaks after being found guilty of embezzlement in Russian court & awaiting sentencing
(2 months later)
Michael Calvey, the US-born financier who founded one of the largest private equity investment firms in Russia, has insisted he is innocent after a Moscow court found him guilty of embezzling funds. He will be sentenced on Friday.Michael Calvey, the US-born financier who founded one of the largest private equity investment firms in Russia, has insisted he is innocent after a Moscow court found him guilty of embezzling funds. He will be sentenced on Friday.
Both the judge and the prosecutor have “simply repeated the phrases and arguments from the December 2019 preliminary accusation, ignoring hundreds of documents, testimonies and expert witnesses presented during the trial over the last 7 months,” Calvey said outside the Meshchansky Court in Moscow on Thursday evening. Both the judge and the prosecutor have “simply repeated the phrases and arguments from the December 2019 preliminary accusation, ignoring hundreds of documents, testimonies and expert witnesses presented during the trial over the last 7 months,” Calvey said outside the Meshchansky Court in Moscow on Thursday evening. 
“But it’s not over yet. I hope tomorrow the judge will address the real facts – hope dies last,” he added.“But it’s not over yet. I hope tomorrow the judge will address the real facts – hope dies last,” he added.
Earlier in the day, the judge found Calvey guilty on charges of overstating the value of an asset as part of a financial transaction and misappropriating funds worth 2.5 billion rubles ($34.2 million). Prosecutors have asked for a six-year suspended sentence for Calvey, and five years for his French business partner, Philip Delpalle. Earlier in the day, the judge found Calvey guilty on charges of overstating the value of an asset as part of a financial transaction and misappropriating funds worth 2.5 billion rubles ($34.2 million). Prosecutors have asked for a six-year suspended sentence for Calvey, and five years for his French business partner, Philip Delpalle. 
They were among the executives of Baring Vostok, a $3.7 billion private equity investment firm, who were arrested in 2019 after a dispute with Vostochny Bank, owned by tycoon Artem Avetisyan. They were among the executives of Baring Vostok, a $3.7 billion private equity investment firm, who were arrested in 2019 after a dispute with Vostochny Bank, owned by tycoon Artem Avetisyan. 
The Oklahoma-born businessman has maintained his innocence and insisted the charges are politically motivated. In his closing arguments last month, he said the evidence presented at the trial “not only does not incriminate me in any crime, but confirms my innocence and the innocence of my colleagues.”The Oklahoma-born businessman has maintained his innocence and insisted the charges are politically motivated. In his closing arguments last month, he said the evidence presented at the trial “not only does not incriminate me in any crime, but confirms my innocence and the innocence of my colleagues.”
An acquittal would have triggered “billions” of new Western investments in Russia, he argued, while convicting him would send a signal to foreign capital that it was not welcome.An acquittal would have triggered “billions” of new Western investments in Russia, he argued, while convicting him would send a signal to foreign capital that it was not welcome.
Like this story? Share it with a friend!Like this story? Share it with a friend!
Dear readers and commenters,
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.
Sorry for the inconvenience, and looking forward to your future comments,
RT Team.