The two were acquitted on all counts. The verdict can be appealed during the next ten days.
A review by the State Audit Office had noted potentially suspect donations and premiums to employees made by the port at a time when giving premiums was heavily restricted. Subsequently, the State Police started a criminal process on possible violations.
The port of Riga plays a crucial role in Latvia's economy and generates huge amounts of cash. However, its internal workings are notoriously opaque and with its board consisting of political appointees, rumors of kickbacks and numerous other forms of graft are a staple of Riga's table-talk gossip.
However, CEO Loginovs, one of the country' wealthiest individuals, has so far batted away all attempts to unseat him and has not been found guilty of any criminal charges.
In summer 2016 Loginovs came into the limelight as LTV's De Facto revealed his income declaration as stating he inherited a €700,000-worth luxury car from his father, an old fisherman.