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According to these changes, made January 31 and February 15, Lavrinenko allegedly bought 22.4% of Elargo Trade shares from the company's previous owner Martins Reinfelds, becoming the company's sole board member with the right to represent the company, informs LETA.

Reinfelds confirmed to Dienas Bizness that he has not sold his shares. Elargo Trade previous CEO Olavs Legzdins points out that, most likely, a large-scale fraud has been committed, since his signature was present on documents submitted to the Register of Enterprises, even though he never signed them.

Lavrinenko's signature, perhaps, was the only thing that was not forged in these documents, emphasized Legzdins, infuriated at such loopholes in Latvia's regulations, allowing anyone to take over a functioning company.

However, no money has been stolen from the company during these several days when Lavrinenko was in charge of it.

At the moment, Elargo Trade is trying to restore its previous makeup and establish all possible risks resulting from Lavrinenko's actions.

Elargo Trade has informed Justice Minister Gaidis Berzins (VL-TB/LNNK), Register of Enterprises Chief State Notary Ringolds Balodis, Latvian Council of Notaries acting chairwoman Sandra Jakusenoka and Latvian Chamber of Commerce and Industry Chairman Janis Endzins about the case, urging the officials to carry out the necessary changes in Latvia's regulations.