LIVE: Moscow court announces verdict in Michael Calvey embezzlement trial: stakeout

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Moscow’s Meshchansky district court continues reading out the verdict in the embezzlement trial of US financier Michael Calvey, on Friday, August 6.

On Thursday, the court found Calvey and six of his associates guilty of stealing 2.5 billion roubles (€27.5m, $33.1m) from the Vostochny Bank.

The prosecutor has requested suspended sentences of four to six years for Calvey and his business partners at the Baring Vostok private equity group.