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Criminal process against Elkor started for large scale money laundering
Nina Kolyako, BC, Riga, 17.06.2011.
Print version
Print versionA criminal process has been initiated against department store chain Elkor, as the company is suspected of large scale money laundering and falsification of documents, State Police Chief Artis Velss announced on Latvian Radio today.
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During searches, police were able to find evidence supporting the claims – computers, document etc. Three persons have been taken into custody, Velss informed.
Elkor operates several department stores throughout Latvia, selling mostly electronics, clothing, furniture and household appliances, writes LETA.
The company employs over 800 persons. In 2010, Elkor achieved LVL 34.15 million in turnover and paid LVL 2.3 million in taxes.
As reported, within the framework of a criminal case, police have carried out searches at Elkor department stores.
State Police press representative Zane Araja admitted to LETA previously that the criminal process is being carried out by the State Police's Economic Crime Department.
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