Banks, Financial Services, Latvia, Legislation

International Internet Magazine. Baltic States news & analytics Friday, 22.11.2019, 23:33

Court finds EUR 29 mln worth of frozen assets to be proceeds from crime

BC, Riga, 14.10.2019.Print version
The Criminal Division of Riga Regional Court last week overruled a decision of the Riga City Vidzeme District Court and recognized EUR 29 million worth of frozen assets to be proceeds from crime, Laura Majevska, a representative of the Prosecutor General's Office, told LETA.

The money in question has been frozen in non-resident accounts at Regionala Investiciju Banka. It will now be paid into the government budget. 


On October 25, 2016, criminal proceedings were started over suspicions that several non-resident accounts at Regionala Investiciju Banka were used to launder large amounts of illicit money. The pre-trial investigation, which is conducted by the Economic Crimes Department (ENAP) of the State Police, is still ongoing.


The ruling of the regional court cannot be further appealed. 







    Search site