Court upholds €1.9 million confiscation in KNAB case over ex-Russian official's funds

On 10 November 2026, the Criminal Cases Panel of the Riga Regional Court rejected the complaints and upheld a ruling by the Economic Affairs Court to confiscate, as criminally obtained property, claim rights against the bank ABLV Bank, which is being liquidated, worth €1,917,565.80, together with a property in Piņķi, Mārupe municipality. The case was investigated by the Corruption Prevention and Combating Bureau (KNAB). The panel's decision cannot be appealed.

What the evidence shows

Evidence gathered by KNAB indicates that a former Russian politically exposed person received €2,398,000 between 2013 and 2017 from a company registered abroad. The payments went to the person's account at the Latvian credit institution ABLV Bank and were justified as loan repayment.

Investigators found significant discrepancies in the loan documentation, in the justification of the payments and in the movement of funds among interlinked foreign companies. The court concluded that there was insufficient basis to establish a lawful origin for all the funds received, and that the seized assets most likely have a criminal rather than lawful origin.

The person used part of the money to buy real estate and invested other funds in financial instruments. The claim rights against ABLV Bank were later transferred to another company. The court noted that such a transfer does not change the origin of the underlying funds.

How the proceedings unfolded

KNAB launched the criminal proceedings on 20 October 2021 over the suspected laundering of criminally obtained funds and circumstances linked to corruption-related offences. On 3 June 2024, the bureau decided to start proceedings on criminally obtained property and sent the materials to court.

On 22 April 2025, the Economic Affairs Court granted KNAB's request and ordered the confiscation of the claim rights and the property. Complaints filed against that decision have now been rejected.