Frenchman Philippe Delpal, American investor Michael Calvey and their Russian colleagues were sentenced Friday evening by a Russian court to suspended prison terms.
In 2019, their arrest was a shock wave to foreign business circles in Russia.
American investor Michael Calvey, Frenchman Philippe Delpal and their Russian colleagues were sentenced Friday evening by a Russian court to suspended sentences in a case that shook Western business circles in Russia.
Accused of embezzlement, Michael Calvey and Philippe Delpal were respectively sentenced to five years and six months and four years and six months in prison, found an AFP journalist in the courtroom.
Their arrest was a shock wave to foreign business circles in Russia.
Their Russian colleagues Alexeï Korditchev, Vagan Abgarian, Maxim Vladimirov, Alexandre Tsakounov and Ivan Ziouzin were given suspended sentences ranging from three years and six months to five years in prison.
The guilt of all those condemned was "fully proven", said Judge Anna Sokova, while highlighting "mitigating circumstances", in particular for Michael Calvey and Philippe Delpal who have minor children in their charge and have no never been tried before this trial.
In 2019, their arrest was a shock wave to foreign business circles in Russia.
They have been prosecuted in a case involving the embezzlement of 2.5 billion rubles (around 28 million euros) in a dispute with Russian banker Artiom Avetissian, one of their former allies.
Since the start of the investigation, influential voices in Russian and foreign economic circles have publicly championed the cause of these businessmen, respected investors in Russia for many years. Michael Calvey, Philippe Delpal and their Russian colleagues have each pleaded not guilty. They all argued that this procedure was an attempt to pressure Artiom Avetissian to get hold of the Vostotchny bank, emphasizing the commercial and not the criminal nature of this litigation.