July 15, 2021

MOSCOW (Reuters) – A Russian state prosecutor asked a court on Thursday to hand U.S. investor Michael Calvey a six-year suspended jail sentence, the RIA news agency reported.

Calvey, founder of private equity group Baring Vostok, was detained along with other fund executives in early 2019 after being accused of embezzlement related to mid-sized lender Vostochny. He was later moved to house arrest.

Calvey denies the charges.

(Reporting by Polina Devitt; writing by Tom Balmforth; editing by Jason Neely)

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