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Tuesday 23.01.2018 | Name days: Strauta, Grieta
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Investment banker Rungainis took part in endowment shemes during property boom

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU, Investment banker Girts Rungainis

Investment banker Girts Rungainis

Investment banker Ģirts Rungainis, who once publicly blamed pensioners for not giving up their pension bonuses for new families, has taken active role in endowment schemes during real estate boom. Experts say this gave grounds for duties avoidance, making the state miss out on huge sums of money.

Rungainis had come up with a revolutionary method during the property boom from 2007 and 2008. Instead of purchasing and selling expensive real estate near Riga for prices fictitiously low, he simply presented or received them as endowments, reports Pietiek.com.

One of the generous persons giving land to Rungainis is the ex-Prime Minister of Latvia Vilis Krištopans wife Aija Krištopane, also known for her activities in the real estate market.

It is possible to judge about the actual value of this formal gift by the fact that, according to the Land Register, the property is pledged for more than 2.35 million lats since the autumn of 2010. Moreover, Aija Krištopane has presented real estate as an endowment to Rungainis repeatedly, in the same Garkalne district, which is also applied the 2.35 million lats mortgage. Similalry, he was also presented land in Babite district in February 2008.


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  1. Gunnar says:

    During the economic upturn many engaged in such activities, so this does not come as surprise.

    Thumb up 0 Thumb down 0

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