Latvia police arrest 5 over defrauding EU fund

2019-03-20 08:44:34

(MENAFN) Police in Latvia on Tuesday have nabbed five suspects of deceiving a European Union fund of four million euros and laundering the illegally earned money.

Police representatives declared that the detentions took place as law enforcement officers attacked many locations in Latvia as part of a criminal probe into suspected efforts to deploy the Latvian Investment and Development Agency's program to illegally take money from the European Regional Development Fund (ERDF) and later launder the illegal proceeds.

The probe activities, with searches among them, are underway.

So far, five people have been arrested in the investigation on suspicions of defrauding and laundering at least four million euros.

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