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LVL 15,000 bail posted for Kavacs
Alla Petrova, BC, Riga, 04.10.2012.
Print version
Print versionRiga Central District Court has received a document today confirming that bail has been posted for the former chief of the municipal housing management company Rigas nami Ltd., Karlis Kavacs, in the amount of LVL 15,000.
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He is expected to be released shortly, writes LETA.
As reported, police detained Kavacs on suspicion of malicious abuse of official position, specifically, making high risk deals connected to foreign currency exchange, in cooperation with Zeus.
His attorney, Guntars Antoms, told reporters earlier that his client does not deny signing a contract with the company Zeus, but in his view, no law was broken.
Zeus board member Ivars Ciska, suspected of misappropriation of funds, has also been detained.
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