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Ceturtdiena 20.02.2020 | Name days: Smuidra, Vitauts, Smuidris
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Police commence investigation of an offshore network owned by Lembergs’ daughter

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvian State Police has commenced an investigation following journalists’ publication of materials about an offshore network owned by suspended Ventspils Mayor Aivars Lembergs’ daughter.

Former investigator Juris Jurašs has turned to Corruption Prevention and Combating Bureau in regards to a publication from Baltic research journalism centre Re:Baltica.

CPCB has confirmed that after evaluating the contents of the application, the bureau sent it to State Police for further investigation. Ilze Jurēvica, press-representative of State Police, has confirmed that the Economic Crimes Prevention Office has commenced an inspection.

A recent publication from Re:Baltica detailed that thanks to the latest data leak from tax paradise firms information on the value of properties owned by Lembergs daughter became available on the public space for the first time.

Re:Baltica wrote that in March 2017 Panama law firm Mossack Fonseca, which had been helping celebrities, tycoons, criminals and other extremely wealthy people hide their actual owned property for years, had sent a letter to some British company wanting to drop one of its clients.

The law firm did this in an attempt to clear its list of clients. Two months after the data leak in 2016, when information regarding hidden assets of associates of the Russian and Ukrainian presidents, as well as Iceland’s prime minister, famous football players and other people, Mossack Fonseca was not able to identify true owners of more than 70% of approximately 39,000 companies registered with the law firm in the British Virgin Isles and Panama.

One of those firms was British Virgin Isles-based Hoshen Limited. Mossack Fonseca considered it too risky of a client. The amount of information available for the company was not enough to meet requirements of the law. Because of that, Mossack Fonseca decided to terminate relations with this company.

In response, the company sent a copy of the passport of the true beneficiary, a signed documents detailing the origin of money, as well as the company’s place in the framework of offshore companies. The letter containing those documents was signed by Liga Lemberga. She mentioned in documents that the origin of the money is a trust fund, and the volume of money reaches USD 10 million and that she is a beneficiary there.

After receiving additional information about the owner of Hoshen Limited in May 2017, Mossack Fonseca decided to continue cooperation.

This is the first time information about properties owned by Lembergs’ daughter has been leaked to the public space, Re:Baltica stresses. The Baltic research journalism centre accessed documents as a member of the International Research Journalism Consortium. German Suddeutsche Zeitung shared the latest Mossack Fonseca documents with the consortium. While the previous leaked documents covered events of the end of 2015, the second leak covers the end of 2017. Lembergs’ daughter was mentioned in old files as the director of some offshore firm, Re:Baltica reports.

Liga Lemberga appears in documents associated with 1992-founded Cerise Trust Savings only slightly. According to the documents signed by her, this trust fund holds assets worth at least USD 10 million, as noted by Re:Baltica.

Swiss lawyer Rudolph Meroni testified in Lembergs criminal case that Cerise Trust is owned by Aivars Lembergs family. This trust, according to Meroni, manages a number of other companies. In another court process in London, in which AS Latvian Shipping Company tried enforcing USD 135 million from Lembergs for international fraud, Cerise Trust included both of Lembergs’ children as beneficiaries.

Available documents state that Liga Lemberga because the trust fund’s beneficiary in 2003. With that, it is unclear who the rest of Bachmann Trust Company owners are (Bachmann Trust formed Cerise Trust). Ventspils businessman Olafs Berķis testified in Lembergs case that Aivars Lembergs ordered other companies associated with Ventspils business to be registered as shareholders in Bachmann Trust Company.

The newly discovered network of offshore companies is not mentioned in Lembergs criminal case, Re:Baltica reports. Most of those companies were registered after the case was submitted to Riga Regional Court in 2008.

Re:Baltica stresses that it is unknown why Lembergs’ daughter would need her own network of offshore companies.

Lembergs mentioned in his response to journalists that his children are adults and live their lives independently.


Leave a reply to LH

  1. LH says:

    5 years of investigation, followed by 10 years of court proceedings…. and nothing will happen. So, just grant him pardon and stop writing about that idiot. Will save the country a lot of shame and taxpayer´s money

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