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Thursday, 01.05.2025, 23:52
Another money laundering ring broken up in Latvia
Nina Kolyako, BC, Riga, 04.06.2010.
Print version
Print versionState Revenue Service (SRS) Financial Police operatives were successful this week in breaking up a major money laundering scheme, the sixth so far in 2010 in Latvia.
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Police estimate that since the beginning of 2009, LVL 7.6 million were legalized by the ring, putting a LVL 1.3 million dent in the state budget in unpaid value-added tax, informs LETA.
The ring's clientele included at least two leading meat processing and wholesale trade companies that supply goods to supermarket chains, as well as a debt collection firm. SRS is not revealing the names of these companies.
At this time, two persons have been designated the status of suspect.
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