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Riga: Latvia is becoming an example for other EU states, Hermitage Capital said (Photo: IVAN 63)

Latvia seizes second flat from Russian crime group

Latvian authorities have seized another property in Riga belonging to a Russian crime group behind one of the best-known money-laundering schemes in Europe.

"The investigation has established that foreign citizens, using criminally-obtained funds, purchased exclusive real estate in Latvia," Latvian police said in a statement.

"Proceeds of crime were injected from a Russian bank into a recipient company in Cyprus, which was effectively controlled by an organised-crime leader ... ...

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

Riga: Latvia is becoming an example for other EU states, Hermitage Capital said (Photo: IVAN 63)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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