The founder of the Baring Vostok investment fund, Michael Calvey, and the ex-partner of the fund, Philippe Delpal, convicted in the case of embezzling 2.5 billion rubles from Vostochny Bank, left Russia. An informed source told Interfax about this. Calvey's presence in the United States was confirmed to the agency by his lawyer.
According to the interlocutor, Calvey and Delpal left for their countries immediately after he lifted the preventive measure.
In January 2022, the Second Court of Cassation of General Jurisdiction overturned the preventive measure in the form of a ban on certain actions to Michael Calvey.
In August 2021, the Meshchansky District Court of Moscow sentenced Calvey to 5.5 years probation in the case of embezzling 2.5 billion rubles from Vostochny Bank. Philippe Delpal (4.5 years), top managers of the fund Vagan Abgaryan (4.5 years) and Ivan Zyuzin (5 years), ex-general director of the First Collection Bureau (PKB) Maxim Vladimirov (4 years), were sentenced to suspended terms. ex-investment director of Vostochny Alexander Tsakunov (4 years) and ex-head of Vostochny Alexei Kordichev (3.5 years).
A criminal case against Michael Calvey and other defendants was initiated in February 2019 at the request of Sherzod Yusupov, a shareholder of Vostochny Bank. Initially, they were accused of fraud, later the charge was reclassified as embezzlement. The investigation claimed that Calvey convinced the board of directors of Vostochny Bank to cede a loan of 2.5 billion rubles to the First Collection Bureau controlled by him in exchange for shares in the IFTG investment fund worth 600 million rubles. Money, as investigators believed, Calvey and his accomplices appropriated to themselves. Calvey himself connected the criminal case initiated against him with the conflict of shareholders.
