€18m alleged to have been transferred illegally to Latvia from Russia

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A criminal case has been launched in Russia against a Russian citizen who has illegally transferred $21m to Latvia, reported LETA via Interfax on Tuesday.

The criminal case has been started by Khabarovsk customs service. The Russian citizen is accused of transferring funds and using forged documents. The crime carries a jail term of 5-10 years.

The Russian citizen is alleged to have established a company and registered it in the name of an acquaintance. The acquaintance who also served as the director of the company, agreed to sign the necessary documents in exchange for a kickback. She also signed an agreement with a Latvian company on transportation of cargo, it is reported.

In line with the agreement, over a five month period the Russian company made 101 money transfers to the Latvian company worth in total $21.38 million (about €18m), the Russian customs service said.

The company, in fact, has not done any business activities, including transportation of goods, it is claimed.

However, no names of individuals or companies involved, the banks used to conduct the transfers nor details of the period when the alleged offences are believed to have happened were given.

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