Russia sentenced U.S. investor Calvi to 5.5 years probation Reuters


© Reuters. File picture: American investor and founder of Baring Vostok Private Equity Group Michael Calvey was placed under house arrest on suspicion of fraud and attended a court hearing in Moscow, Russia on August 15, 2019. REUTERS/Evgenia Novozhenina

MOSCOW (Reuters)-According to Interfax news agency, a Russian court sentenced American investor Michael Calvi to a 5.5-year probation for corruption on Friday. This is a day after he was found guilty. This case made the Russian business community feel disturbed.

Calvey, the founder of Baring Vostok, a Russian-focused private equity group, was detained with other executives in early 2019 on charges of corruption related to the medium-sized bank Vostochny. He and the executives denied these allegations.

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