US, French investors plead not guilty in Moscow fraud trial

Moscow (AFP) – A prominent US investor and French banker denied they were guilty of embezzlement Tuesday, on the opening day of a trial in Moscow that has rattled Russia’s business community. Michael Calvey, the 53-year-old founder of Russia-based investment fund Baring Vostok, was arrested along with French banker Philippe Delpal in February 2019 and accused of defrauding Vostochny Bank of 2.5 billion rubles ($32.9 million). Calvey and Delpal, who both wore medical masks and dark blazers over light-coloured shirts, denied the charges in court on Tuesday, an AFP journalist reported. “The alleg…

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