The State Police is conducting searches in different parts of Latvia in a criminal procedure launched earlier on possible fraudulent actions in relation to programs of the Regional Development Funds and the Latvian Investment and Development Agency.
So far the State Police has detained five persons on suspicion of fraud and possible money laundering worth more than €4,000,000.
The investigation is still ongoing and the police does not further comment on the case.
The State Police did not reveal names of the detained persons, while grani.lv portal said that Daugavpils businessman Vladislavs Driksne has been detained, and a search was conducted at his home.
According to Firmas.lv, Driksne is an owner of a number of companies. He is also a shareholder in Ditton Pievadķēžu Rūpnīca motor chain plant.