Calvi and Delpal, convicted in the Baring Vostok case, left Russia
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The founder of the Baring Vostok investment fund, Michael Calvey, and his business partner Philippe Delpal, who were sentenced on probation in August 2021 for embezzlement, left Russia, a Vedomosti source said.
The businessmen left the Russian Federation immediately after the trial in January 2022. stripped off they are prohibited from doing certain things.
In November 2020, the Supreme Court released Calvey from house arrest, where he had been held since April 2019. In August 2021, Calvey received a five-year and six-month suspended sentence in an embezzlement case, and other defendants were also given suspended sentences.
On March 24, the Moscow City Court will consider the defense’s complaint against the verdict. Timofei Gridnev, Calvey’s lawyer, said that his client plans to participate in the meetings, but “due to the situation” there were difficulties in obtaining a visa.
“If he gets it, he will participate, if not, then we will prepare an application (on the hearing of the case on appeal in his absence),” he explained.
Delpal’s defense also noted that the businessman would like to participate in the hearings, but he also had difficulty obtaining documents. Delpal asked for a statement that he did not have a translation of the minutes of the court sessions into French and therefore he was deprived of the opportunity to personally file an appeal, the lawyer added.
The criminal case against Calvey and six of his colleagues from the Baring Vostok fund and Vostochny bank was initiated in February 2019. Initially, the investigation qualified the case as fraud (Article 159 of the Criminal Code of the Russian Federation), but then changed the imputed article to embezzlement (Article 160 of the Criminal Code RF). According to law enforcement agencies, Calvey, as part of a criminal group, squandered 2.5 billion rubles. “Vostochny” – this is how the investigation regarded the acceptance by the bank of shares of the Luxembourg company IFTG as a compensation on a loan of 2.5 billion rubles. The borrower was the First Collection Bureau, also owned by Baring Vostok.
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