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International Internet Magazine. Baltic States news & analytics Sunday, 29.06.2025, 10:01

Revenue Service of Latvia busts already third money laundering ring in 2009

Alla Petrova, BC, Riga, 03.03.2009.Print version
The State Revenue Service has busted already a third money laundering ring in February 2009 after conducting several searches in Riga, Daugavpils and Ventspils at end-February; the money laundering ring is suspected of legalizing approximately LVL 3.2 million altogether, LETA was informed at the Revenue Service's Communication Department.

Overall the Revenue Service's Finance Police officers carried out 19 searches in Riga, Daugavpils, Ventspils and other cities from February 26 through February 28. At least LVL 100,000 was arrested in the accounts of the enterprises involved in the scheme.

 

According to the Revenue Service, the scheme was run by three persons – two were based in Daugavpils and one, the "chief", in Riga. The money laundering ring involved at least 21 persons altogether.

 

So far the Revenue Service has detained two persons in the case, and another five were given the status of a suspect.

 

During the searches, the Revenue Service officers found seals and documents from the companies involved in the scheme. The Revenue Service believes that the money laundering ring has been active since 2007 and has legalized at least LVL 3.2 million.

 

The Revenue Service's Finance Police have opened a criminal case according to the Criminal Law's Section 195 Part 3 – laundering of the proceeds from crime on a large scale or in an organized group, and Section 218 Part 3 – evasion of taxes and payments imposed together therewith.

 





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