Crime, Financial Services, Latvia, Legislation, Shadow economy, Taxation

International Internet Magazine. Baltic States news & analytics Monday, 25.03.2019, 12:20

Latvia’s Revenue Service is investigating 131 money laundering cases

BC, Riga, 01.11.2018.Print version
Latvia’s Tax and Customs Police Department of the State Revenue Service (VID) at present in investigating 131 criminal cases on money laundering, informs LETA referring to the department’s director Kaspars Podins.

This year 11 money laundering processes were started.


He said that in parallel to these criminal procedures, decisions are made on measures to ensure sooner and more efficient repayment of the laundered money into the state budget. At present 16 such decision are made.


Decisions on restrictive measures and arrest of assets have been made on 26 movable properties (transport vehicles) – worth 198,800 euros, and 30 real estate properties worth 826,627 euros. In 16 cases shares in companies have been arrested worth 530,121 euros.


"This year 2,200,770 euros of the money laundered have been payed into the state budget Most of the sum was almost 2 mln euros confiscated during one of the searches. This criminal process will be sent for criminal prosecution early next year and it involves very rich and well-known people," said Podins.


He said that at present he may not reveal information about names of these people or places where the searches were conducted.

 






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