Country of Origin
Cyprus
Country that initiated legal action to recover proceeds of corruption
Latvia
Disposition of Criminal Case(s)
At time of reporting (2020), there was a concluded investigation/prosecution related to this case in the country of origin (Cyrpus).
Action Initiating Asset Recovery
By an MLA request from the country of origin
By domestic investigation by law enforcement authorities (independent from foreign request)
Stage of Asset Recovery
Assets returned
Legal basis for Asset Recovery in the country that initiated legal action to recover proceeds of corruption
Conviction-based criminal prosecution and confiscation
Legal Basis for International Cooperation
UNCAC
Bilateral Mutual Legal Assistance Treaty
Manner of Asset Transfer
Direct wire transfer to a centralized government account (e.g. general budget)
Contributing Factors in Asset Recovery
Other
Specify Other
Egmont group
Notes
The date of confiscation order was October 2012 in Latvia. The order was enforced in Estonia.
The date of asset freezing/seizure order was October 2012 in Latvia. The freezing order was enforced in Cyprus.
Assets returned
#1
Assets returned
667,508.28 EUR
Assets Returned (USD equivalent)
$711,580.51
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
Yes – another agreement
Monitoring and Disbursement Arrangements
Bilateral Agreement
Assets Confiscated
#1
Date of confiscation
October 2012
Asset Type at Time of Confiscation
Cash/bank deposit
Assets Frozen/Seized
#1
Date of freeze/seizure
October 2012
USD Conversion date
September 2023
Date and Country of Case Submission
January 1, 2020
Latvia
Data Source
Official information provided by country authorities