As reported by former chariman of the board Dzintars Ozolins to Dienas Bizness – criminal proceedings were started on April 17 in State Police Kurzeme region in Ziemelkurzeme department based on Article 177, Part 3 of the Criminal Law about the alleged misuse of insolvency proceedings of Kurzemes Finieris, which possibly allowed to gain control in the company through illegal means (including expropriation of valuable fixed assets).
The criminal proceedings were started after the aforementioned Dz. Odins made a statement to the police on September 2 last year, where he stated that the 2014 company takeover was fraudulent.
Namely – initially the owner of Stiga RM Andris Ramolins has positioned himself as a potential investor, but later has initiated insolvency proceedings in court. During the proceedings he established Stiga RM control over Kurzemes Finieris.
In the April 18 issue of Dienas Bizness, in the article “Rading Funded by Government Money?”, it was already stated that the overtaking of the company was directly or indirectly connected with Mortgage and Land Bank (currently Altum) and State Revenue Service officials.
Dz. Odins in his statement to the police also mentions the possibility that a VAT scheme was implemented which was agreed upon by the State Revenue Service official. He has also expressed doubt about the bank’s actions by handing over all company cessions to one of the creditors. Investigation conducted by Dienas Bizness for more than a year after the interview with Dzintars Odins in November 2021 could not find if rading has or has not happened, leaving only doubts and questions about possible VAT schemes and bank actions.
In his statement to the police Dz. Odins claims that he as the victim in the process and company co-owner has suffered tremendous losses, which he assesses to be in millions of Euros, also pointing to the involvement of Stiga RM owner A. Ramolins in all the deals, which he believes were fraudulent. For the society the most painful loss might not be the loss of Dz. Odins, but state losses from the missing VAT and peculiar sale of cessions, where the comprehensible part is the tax. However, it is hard to speculate about the profit after auctioning the cessions because it is not possible to sell an already sold horse.
Criminal proceedings have been initiated for group fraud in large amounts, which foresees imprisonment up until 10 years as well as confiscation of property.