Financial Services, Latvia, Legislation

During a search procedure on March 20, the police detained three culprits, born 1951, 1947 and 1953, on March 20, at Terbatas Street in Riga, for distributing 100 dollar banknotes with signs of falsification. None of the detainees had previous criminal record, as the State Police spokeswoman Sintija Virse informed LETA.

Altogether EPA employees found and confiscated from the three detainees counterfeit 17,400 U.S. dollars (LVL 9,000).

A criminal procedure has been launched, pursuant to Section 192 (2) – Manufacture, Distribution, Transportation, Conveyance, Acquisition and Storage of Counterfeit Money, where commission thereof is repeated or on a large scale, or where committed by an organized group. The applicable sentence is deprivation of liberty for a term of not less than five years and not exceeding fifteen years, with confiscation of property, and with or without police supervision for a term not exceeding three years.

EPA continues pretrial investigation.