Saturday, 20 April, 2019

5 suspects nabbed in Latvia for defrauding EU of millions of euros

19 Mar 2019, 19:11 ( 1 Month ago)

DF-Xinhua Report
File Photo Xinhua.

Police in Latvia on Tuesday detained five people suspected of defrauding a European Union fund of four million euros and laundering the illegally obtained money, informed the Latvian state police.

   The arrests were made as law enforcement officers raided several locations in Latvia as part of a criminal investigation into suspected attempts to use the Latvian Investment and Development Agency's program to illegally receive money from the European Regional Development Fund (ERDF) and later launder the illegal proceeds, police representatives said.

   The investigative activities, including searches, are ongoing.

   So far, five persons have been detained in the probe on suspicions of defrauding and laundering over four million euros.

   Since the investigation is not yet over, the law enforcement authorities are not giving more details on the case.

   According to local media reports, one of the suspects detained is a co-owner of Ditton Pievadkezu Rupnica motor chain factory based in the southeastern Latvian city of Daugavpils.