Olainfarm co-owner Maligins passes away

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Valerijs Maligins, chairman of the board of the joint-stock Latvian pharmaceutical company Olainfarm passed away this weekend.

No signs of foul play were found in his death, police representative Elina Sprudzane told LETA. She said that Maligins was found dead in his home in Jurmala on December 9.

At this point, there is no evidence to suggest a violent death, but the exact cause of the businessman’s death will be established in an autopsy, she said.

The police representative could not say when the autopsy’s results might become available.

A criminal probe has been launched over crimes affecting a person’s health.

Maligins, 52, was the company's largest shareholder. He became chairman of Olainfarm’s board after the privatization of the company in 1997.

Under his management, the company became one of the most valuable companies in Latvia reaching the level of €100 million in revenues and selling its products to more than 50 countries.

Maligins was ranked the seventh richest person in Latvia this year, with personal wealth estimated at around €70 million.

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