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According to the defendant, he thought the issuance of loans to the First Collection Bureau was a reasonable as well as the only possible solution
share Print A prominent U.S investor went on trial in Moscow on February 2 nearly two years after he was arrested on embezzlement charges that rattled Russia’s business community. Michael Calvey, the founder of the private equity group Baring Vostok, and other executives were detained in February 2019. They have denied wrongdoing and said the charges against them are being used to pressure them in a business dispute over control of Vostochny Bank. In the Moscow courtroom on February 2, Calvey again proclaimed his innocence. "The allegation against me is not only unreasonable and unfair, but...
'I'm not guilty': Baring Vostokâs Calvey denies embezzlement charges as trial begins On Tuesday, Moscowâs Meschansky Court began to consider the merits of the Baring Vostok founderâs case Michael Calvey© Meshansky District Court Press Office/TASS MOSCOW, February 2. /TASS/. Michael Calvey, founder of the Baring Vostok private equity firm has denied charges of embezzlement at the opening of his court proceedings, a TASS correspondent reported from a courtroom. On Tuesday, Moscow’s Meschansky Court began to consider the merits of the Baring Vostok founder’s case. "I plead ...
US, French Investors Plead Not Guilty In Moscow Fraud Trial By Andrea PALASCIANO 02/02/21 AT 8:50 AM A prominent US investor and French banker denied they were guilty of embezzlement Tuesday, on the opening day of a trial in Moscow that has rattled Russia's business community. Michael Calvey, the 53-year-old founder of Russia-based investment fund Baring Vostok, was arrested along with French banker Philippe Delpal in February 2019 and accused of defrauding Vostochny Bank of 2.5 billion rubles ($32.9 million). Calvey and Delpal, who both wore medical masks and dark blazers over light-colo...
Court refuses to send Baring Vostok case back to prosecutor's office MOSCOW. Jan 22 (Interfax) - Moscow's Meshchansky District Court has refused to grant the defense team's motion and return the criminal case against the founder of the Baring Vostok investment fund, U.S. businessman Michael Calvey, and his coworkers, all charged with embezzling Vostochny Bank funds, to the prosecutor. "[The court] hasn't granted the motion of the defense to return the criminal case to the prosecutor's office," the court's press service told Interfax on Friday. The court held a preliminary hearing to determine...