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Wednesday 23.08.2017 | Name days: Valgudis, Ralfs, Vitālijs
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Endowment contract between Lembergs’ company and Banka Baltija was fictive

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUDuring court proceedings January 28, witness in the so-called Lembergs criminal case, Banka Baltija certified auditor Aivars Putniņš, claimed in his testimony that the Banka Baltija endowment contract with offshore firm Kaywood International Ltd dated January 25, 1995, which was linked to Aivars Lembergs and his family by other witnesses in their testimonies, was fictive.

This is about an endowment contract, in accordance with which Banka Baltija gifted LVL 68,100 worth of shares in SIA Lat Transnafta to an offshore company Kaywood International Ltd for different services provided to the bank.

As it was stated by prosecutor Juris Juriss, the endowment contract has a reference that mentions some services that were provided. The witness, however, said there were no additional documents attached. Therefore, the endowment contract did not serve as a means of payment for anything.

As previously reported, Swiss lawyer Rudolf Meroni testified September 21, 2006 that Aivars Lembergs, his daughter Liga and his son Anrijs are the actual beneficiaries in Kaywood International Ltd. One of the shareholders of this company is Barnes Industries Ltd. According to Meroni, Lembergs was already a shareholder or beneficiary of Kaywood International Ltd since 1993. According to Meroni, Kaywood International Ltd has never been involved in actual commercial activities, never had any employees and never had an office. ‘Kaywood archive contains documents from Bachman Trust. It is clear that Bachman Trust believed Mr Oleg Stepanov was one of the shareholders/actual beneficiaries in Kaywood. However, there is a document signed by John Nelson. He said there was false information received during the initial stages of the company’s takeover. He added that Aivars Lembergs was the only actual beneficiary,’ – as Meroni testified in 2006.

According to testimony of a victim and businessman Vladimir Krastiņš, around the beginning of 1995 Lembergs turned to him and requested 3% of the 5% shares in Lat Transnafta owned by Krastiņš. The latter did as he was asked. He lost more than 50% of his owned shares worth as much as LVL 25,600.

The second witness to be interviewed as part of this court process is Board member of LSF Holding Andris Vilcmeiers. He confirmed his original testimony of 2008: he had, indeed, participated in the selling of SIA NFS and TC Tobago shopping centre, in which Aivars Lembergs, Anrijs Lembergs and Ansis Sormulis were incriminated as guilty for money laundering. ‘His testimony also points to Liga Lemberga and Anrijs Lembergs who lent finances for the purchase. This confirmed multiple charges we have,’ – as explained by Juriss.

The court process of Lembergs criminal case will continue in Riga Regional Court January 30.

As previously reported, Aivars Lembergs is accused of bribery is especially large amounts, money laundering, misuse of power and participation in activities that were prohibited to him as an official and other serious crimes.

Ref: 102.109.109.4872


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