Economic Crime Division Dismisses Case and Releases Frozen Funds of COBALT Clients

"COBALT represented clients whose funds seized by the State Police’s Economic Crime Division were released after the Division agreed the funds’ illegal origin could not be proven. Criminal proceedings relating to more than EUR 650,000 were dismissed and the frozen funds were returned within eight months."

COBALT represented clients whose funds had been seized by the Economic Crime Division of the State Police of Latvia on suspicion of criminal origin. The Economic Crime Division ruled in favour of COBALT’s clients after considering COBALT’s submissions and concluded that the illegal origin of the funds could not be proven. The proceedings had been initiated in relation to suspicions concerning more than EUR 650,000. COBALT secured termination of the criminal proceedings and facilitated the release of the clients’ frozen funds within eight months. COBALT represented the clients with a team composed by: Partner Lauris Liepa and Senior Associate Gabriela Šantare.

Economic Crime Division Dismisses Case and Releases Frozen Funds of COBALT Clients

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