Baltic States – CIS, Financial Services, Latvia, Legislation, Ukraine

State Police spokesman Toms Sadovskis told LETA that, based on information obtained from the police administration responsible for investigating crimes related to money laundering, a criminal process has been launched in connection with this matter. He added that there are no suspects connected with this case yet.

Sadovskis refrained from commenting the criminal process in more detail, but did confirm that it is possible that approximately USD 80 million was laundered through Latvia.

As reported, law enforcement agencies in various countries are investigating large-scale money laundering by Yanukovych and his allies during his presidency.

For example, Swiss and Austrian authorities have already ordered a freeze on the assets of Yanukovych and his multi-millionaire son and launched a criminal probe into alleged money-laundering by the pair.

Several other countries have also freezed the assets of other Ukrainian officials suspected of corruption and money laundering.

According to Kiev, the Yanukovych regime stole approximately EUR 2.1 billion in state funding during his presidency, but this amount could even be larger.