Kalvy and Delpal, convicted in the Baring Vostok case, left Russia

The founder of the Baring Vostok fund, Michael Kalvy, and his business partner Philip Delpal, convicted by a Russian court in the case of embezzlement of Vostochny bank funds, left Russia. This is reported by TASS, Interfax and RIA Novosti agencies with reference to the lawyers.

On Friday, the Moscow City Court will consider the appeal against the sentence of the Moscow Municipal Court from August 2021 in the case of the embezzlement of two and a half billion rubles of the “Vostochny” bank, in which seven people, including Kalvy and Delpal, received suspended sentences. They were also prohibited from leaving Russia without the permission of the authorities. In January 2022, the court canceled the restraining order.

According to the lawyers, their clients left for their countries immediately after this court decision. Currently, Calvy is in the USA, and Delpal is in France.

In May of last year, the Bloomberg agency, citing its sources, wrote that Michael Kalvy left Russia before the start of a full-scale war in Ukraine.

• The criminal case against Kalva and his colleagues at the Baring Vostok fund and the Vostochny bank was initiated by the Investigative Committee in February 2019 – after the statement of a member of the board of directors of the bank, Sherzod Yusupov, submitted to the FSB of Russia. According to the investigation, Kalvy, together with the other defendants, embezzled 2.5 billion rubles of credit funds that “Vostochny” issued to the First Collection Bureau affiliated with Baring Vostok.