Officials bust suspected money-laundering operation

Take note – story published 1 year ago

In October of this year, the Tax and Customs Police officers of the State Revenue Service (VID) stopped the activities of an organized criminal group, which was involved in the legalization of criminally obtained funds on a large scale, LSM's Latvian language service reports.

During searches, not only cash, but also computer servers, computers and accounting documents were found and seized, as well as narcotics.

According to the VID investigators, in the period from 2020 to 2022, the organized criminal group engaged in the legalization of criminally obtained funds worth at least 377,729 euros, hiding the origin, ownership and movement of criminally obtained funds, as well as changing their location.

As part of criminal proceedings which have been initiated, employees of the Tax and Customs Police carried out 11 different searhes in Rīga, Jūrmala and Ādaži in the residences, offices and cars of the persons involved in the criminal ring. 

During the searches, evidence important to the criminal process was found and removed. This included cash worth 224,800 euros, narcotic substances, servers, computers, foreign company registration documents, including offshore ones, which will be analyzed in the further course of the pre-trial investigation of the criminal process.

Three persons have been recognized as suspects for the mentioned criminal offences, with two persons under arrest and a third released on 10,000 euros bail.

The investigation continues.

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