Calvey, in final statement in court: Positive judgment in my case to draw billions in new investments in Russia
MOSCOW. July 19 (Interfax) - Michael Calvey, an American businessman and founder of the Baring Vostok investment company, has said in his final statement in court that a positive judgment in his criminal case would have an immense impact on the entire Russian business community and draw billions of U.S. dollars in investments in Russia, an Interfax correspondent reported from the courtroom.
"Your honor, I am innocent, and all of my colleagues are also innocent. We have incontrovertible evidence proving our innocence. Your judgment would influence not only me and my colleagues, but also the entire Russian business community. I do hope that your decision will become a symbol of independence and justice of the Russian judicial system," Calvey said in his final statement at Moscow's Meshchansky District Court on Monday.
"The court's decision to turn down the charges would be a huge positive signal of independence of the judiciary and the protection of investors' rights. It wouldn't be an exaggeration to assume that such a positive court judgment would be able to draw billions of dollars in new investments in Russia and create thousands of new jobs," Calvey said.
The Meshchansky District Court of Moscow will announce the sentence for U.S. businessman Michael Calvey and the other defendants in the so-called Baring Vostok case, who are charged with embezzling Vostochny Bank funds, on August 2.
"The court retires to the deliberations room to hand down the sentence, which will be read at noon on August 2," Court Chairperson Anna Sokova said on Monday.
According to earlier reports, the state prosecutors are seeking a suspended sentence of six years in prison for Calvey, a suspended sentence of five years in prison for French citizen Philippe Delpal, a suspended sentence of 5.5 years in prison for the company's Investment Director Ivan Zyuzin, a suspended sentence of five years in prison for the company's partner Vagan Abgaryan, a suspended sentence of 4.5 years to former general director of First Collection Bureau Maxim Vladimirov, a suspended sentence of 4.5 years for former Vostochny Bank investment director Alexander Tsakunov, and a suspended sentence of four years in prison for the bank's former board chair Alexei Kordichev.
The prosecutors are seeking a probation period of five years for all defendants.
The defense lawyers and the defendants have asked the court to acquit them.