While investigating a possible violation of international sanctions, Latvian State Security Service (VDD) has identified illegally obtained funds in the amount of more than 4 million US dollars. On Thursday, October 6, by the decision of the court of second instance, illegally obtained funds were confiscated for the benefit of the Latvian state.
The illegally obtained funds were identified in a bank account of an offshore company, while VDD was conducting investigative activities related to suspicions of violation of international sanctions and a large-scale laundering of illegally obtained funds. The mentioned criminal proceedings were initiated on February 5, 2018 pursuant to Section 84 Paragraph 2 and Section 195 Paragraph 3 of the Criminal Law. The information obtained during the investigation shows that more than 4 million US dollars identified in a bank account of an offshore company were obtained by a group of persons illegally supplying weapons to the armed forces of an African country against which the European Union and other international organizations have imposed sanctions.
Having identified the illegally obtained funds, VDD took necessary measures to seize them. After inspecting the information obtained during the procedural activities of VDD, on August 1 this year the court of first instance took a decision to acknowledge the seized financial assets as a criminal property and to confiscate them for the benefit of the State. On Thursday, October 6, the court of second instance upheld the decision taken by the court of first instance. The decision is no longer subject to appeal.
In the interests of the investigation VDD currently refrains from further comments.
VDD is the counterintelligence and internal security service of Latvia whose activities are aimed at identifying and preventing possible threats to Latvia’s national security. VDD’s main competences are counterintelligence, protection of state secrets, protection of constitutional order, economic security, counterterrorism, protection of dignitaries and pre-trial investigation.
Information prepared by VDD
Illustrative photo, VDD