Verdict expected for Michael Calvey, an American who became one of Russia’s most prominent foreign investors and an ambassador for doing business in the country.

He faces a possible six-year suspended jail sentence if found guilty of embezzlement charges.

The founder of private equity firm Baring Vostok was arrested in February 2019 along with several associates.

They were accused of defrauding the lender Vostochny Bank out of $32 million.

His arrest shocked business circles in Russia and was seen as a threat to foreign investment in the country.

Calvey argues that an innocent verdict in his case would trigger billions of dollars in foreign investment and help create thousands of new jobs.

Business leaders criticized his arrest, calling it a corrupt attempt by Calvey’s opponents in the dispute to use law enforcement to pressure him.

Agencies.