Russian court finds American investor Calvey & business partner GUILTY of embezzling millions of dollars after high stakes trial ...News

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Russian court finds American investor Calvey & business partner GUILTY of embezzling millions of dollars after high stakes trial
A court in Moscow on Thursday convicted US financier Michael Calvey of embezzling fund as part of a long-running and controversial court case that could see the billion-dollar investment fund director handed a stiff sentence. The former head of Baring Vostok, a $3.7-billion investment firm he founded, Calvey was accused of overstating the value of an asset as part of a financial transaction and misappropriating funds worth 2.5 billion rubles ($34.2 million). A judge at the Meshchansky Court in the Russian capital found him and his French business partner, Philip Delpalle, guilty of the charges in Thursday's hearing. Prosecutors are see

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