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Michael Calvey's conviction cancelled as his probation period expires

Michael Calvey's conviction cancelled as his probation period expires
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U.S. investor Calvey pleads guilty to Russian embezzlement charge -Ifax cites court

MOSCOW (Reuters) -U.S. investor Michael Calvey on Thursday said he had never pleaded guilty to embezzlement charges in Russia and never would, after a Russian cassation court said he had acknowledged his guilt in a 2.5-billion-rouble ($27.7 million) case. Calvey, the founder of Russia-focused private equity group Baring Vostok, was detained along with other executives in early 2019 on charges of embezzlement linked to mid-sized lender Vostochny. A Russian court of cassation on Thursday said Calvey had pleaded guilty to the charges after years of maintaining his innocence and that it had commuted his sentence by two months as a result. ....

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