Six suspects face charges in probing over liquidation of Latvia's Trasta Komercbanka bank

RIGA, Jan. 5 (Xinhua) -- Six people suspected of extortion and money laundering are facing charges in a criminal probing related to the liquidation of Latvia's Trasta Komercbanka bank, representatives of the Latvian State Police announced on Friday.

At the end of December, the police completed the investigation of the so-called insolvency administrators' case and are now seeking the prosecution of the six suspects, police representative Ilze Jurevica said.

After obtaining information suggesting of possible violations in the process of the insolvent bank's liquidation, the economic crime division of the Latvian State Police in January 2017 started a criminal investigation into organized extortion and money laundering.

Investigators established that during the liquidation of Trasta Komercbanka in 2016, two insolvency administrators and four other persons organized an extortion scheme.

Insolvency administrators Maris Spruds and Ilmars Krums, as well as businessman Jorens Raitums were arrested in connection with the probe in June 2017.

They are also suspected of laundering large amounts of money, police representatives said.

During the criminal investigation in 2017, police conducted 16 searches, seizing important documents and cash worth thousands of euros. Law enforcement authorities also put arrest on several properties, luxury automobiles and money.

Krums and Raitums have since been released from custody, but Spruds remains in detention.

At the end of December 2017, police sent the case to the specialized prosecution office for organized crime, asking to press charges against the six suspects.

Trasta Komercbanka lost its license in March 2016 after the Latvian banking regulator accused the bank of serious violations, including a systematic failure to meet supervisory requirements and breaches of anti-money laundering laws. Enditem