Financial Services, Latvia, Legislation, Markets and Companies, Taxation

As reported, just one of the four detained persons in the criminal case on alleged manipulations with cash registers at Vairak Saules restaurants has remained in custody. Other three persons have been released, and two of them have been released on bail.

The Riga Vidzeme District Court yesterday decided to remand three persons in custody, but two of them could be released on bail. Freedom of the fourth detained person has not been restricted, LETA learned from the State Police.

Vairak Saules representative Laura Minskere told LETA that bail has been paid for both persons and they have been released. The one person who is still in custody is a person who maintained video surveillance cameras and internet network for the restaurant.

LETA also reported, the Latvian police on Tuesday raided restaurants and administrative offices of Vairak Saules restaurant chain and four people were detained. Restaurants belonging to the Vairak Saules restaurant chain are closed after the raids.

According to the police, in late May a criminal procedure was launched on violations of accountancy and statistical information rules, manipulations of automated data processing and illegal activities with this information if this has been done in order to earn profit.

The police has suspicions that the illegal activities have been conducted already since 2016. The criminal procedure has been launched based on an application and information at the disposal of the police. The police suspects that the illegal operations might have caused EUR 1.5 million loss to the state.

Vairak Saules restaurant chain is run by Vel Vairak Saules company founded in 2002 and owned by VVC Holding, a company that belongs to Endijs Berzins.

Vel Vairak Saules closed 2017 with a loss of EUR 216,122 on a turnover of EUR 4.715 million.