RIGA — The assets of those suspected of corruption in the Latvenergo case have been frozen by Latvian authorities, according to the Registry of Enterprises.

The Corruption Prevention and Combating Bureau told reporters that the case goes back over the past four years and involves bribery, embezzlement  and money laundering of more than €1.3 million from the state-owned energy company. The arrested men include Latvenergo CEO Kārlis Miķelsons, Latvenergo Vice President Aigars Meļko, Latvenergo subsidiary Sadales Tīkls board members Ivars Liuziniks and Andrejs Stalažs, Sadales Tīkls Technical Director Edgars Vitkovskis, Daugavpils businessman Mihails Paladijs and Buvenergoserviss CEO Mihails Paladijs and former board member Andrejs Livanovičs.

Since then Latvian authorities have not dallied in seizing the assets of these businessmen as several have attempted to re-register their companies under different people’s names. The list of companies is long.

Miķelsons, Meļko and Livanovičs remain in police custody while the rest have been released ahead of trial proceedings. All those arrested have maintained their innocence.

This article is free to view. To read Baltic Reports’ subscription-only articles, click here.