The Economic Court (ELT) in November released Rēzekne businessman Elmārs Laizāns — accused of leading an organized criminal group in the largest money-laundering case in Latvia’s history — from custody in exchange for €500,000 bail, the magazine Ir reports.
Laizāns, together with Artjoms Rižakovs, Ruslans Gusevs, Vladislavs Osovskihs, Jānis Purniņš and Inga Ostrovska, has been charged in a case involving the laundering of over half a billion euros in illicit financial assets.
Laizāns, who was arrested last June, had previously been held in pre-trial detention. In a public statement last December, police noted that strong countermeasures were being taken against investigators following the arrest of the alleged criminal group leader, obstructing the progress of the investigation.
Ir has learned unofficially that during his detention, Laizāns was transferred from Riga Central Prison to Liepāja Prison.
However, on the 8th of November this year, after spending a year and a half in custody, Judge Ieva Jankovska of the Economic Court released Laizāns on €500,000 bail.
The decision on changing the security measure was made in a closed session,
and neither the court nor Laizāns’s lawyer Jeļena Kvjatkovska disclosed the grounds for the ruling.
The required bail sum was deposited in the court within two days by several individuals who have no procedural status in the case. The legal origin of the funds was confirmed through payment documentation and written statements submitted to the court, ELT representative Laura Tomsone wrote to Ir.
Laizāns is now subject to restrictions including a requirement to notify authorities of any change of residence, a ban on leaving the country, and mandatory regular check-ins at a police station corresponding to his place of residence, Ir reports.
Since August, when the court began hearing the massive case — which consists of more than 100 volumes — four sessions have been held. Under the Criminal Procedure Law, priority in scheduling is given to cases in which defendants are held in custody. Now that Laizāns has been released, the court is no longer required to treat the case as a priority.
Prosecutor Imants Orubs told the magazine that the change in the security measure could affect how the case proceeds.
Until now, there has been no indication of attempts to delay the process. How the proceedings will continue can be evaluated at the next hearing, he added.
According to Ir, €500,000 is the largest bail amount ever set for a defendant released from custody in Latvia.
Previously, similarly high bail sums were imposed for the release of former insolvency administrator Māris Sprūds — accused of extortion and money laundering — and businessman Māris Martinsons, a suspect in the “Rīgas satiksme” corruption case.
As reported earlier by LETA, the Economic Court will continue hearing the large-scale money-laundering case on the 16th of December.
According to Firmas.lv records, Laizāns is currently a beneficial owner in the companies “Ramm,” “RZ59,” “ReEnergo,” and “Centro.” He is also the sole owner of the companies “Investblok,” “EMNi,” “MRC,” and “Elters,” and the beneficial owner of “Train Way.”
The indictment states that members of the group laundered more than €500 million of illegally obtained cash
over an extended period by purchasing expensive real estate in Latvia and abroad, investing in improvements, maintenance, and construction of these properties, and by buying movable property and luxury goods.
The funds were derived from criminal offences listed in the Special Part of the Criminal Law, committed under circumstances not fully established during the investigation, the prosecution reported.
The accused shared responsibilities based on their ability to contribute to the group’s goals. The criminal activity took place from September 2007 until February 2024, according to the prosecution.
A pre-trial process for applying coercive measures against a Latvian-registered legal entity has been completed. Prosecutors found that the crime was committed for the benefit of this legal entity, based on the authority of one member of the organized group to represent it, make decisions on its behalf, and exercise control. The case concerning the legal entity has been forwarded to the Economic Court for adjudication.
In addition, more than 90 decisions on asset seizures have been issued in the criminal case.
Among the seized assets are six properties in Spain worth more than €8.5 million; 42 properties in Latvia; €157,569 in non-cash funds; €114,732 in cash and additional cash in foreign currencies; 29 vehicles, including luxury and vintage cars; company shares; more than 40 items of precious metal and gemstone jewelry; collectible coins and luxury wristwatches.
The defendants deny all charges.
Latvian Television’s De facto previously reported that Laizāns is also implicated in a case involving an international organized crime network engaged in illegal cigarette distribution in the EU and the United Kingdom. During raids in Ludza, authorities discovered a production facility with equipment and raw materials. Twenty-five Ukrainian nationals involved in cigarette manufacturing were arrested. Authorities seized a total of 300 million cigarettes and 47 tonnes of shredded tobacco leaves.
This April, the State Border Guard announced that it had forwarded a criminal case to the prosecution for charges against 25 Ukrainian citizens involved in illegal cigarette production in Ludza. Agreements on penalties were reached with 23 of them.
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