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LTV: ex-insolvency administrators threatened to confiscate Trasta komercbanka creditors’ money

The prosecutor’s office has raised charges against former insolvency administrators Māris Sprūds, Ilmārs Krūms and four others in the Trasta komerbanka liquidation case, as reported by De Facto programme of LTV with reference to information from Prosecutor General’s Office.

Six people are accused of extortion and money laundering.

The version police are working off is the following: Māris Sprūds, Ilmārs Krūms and four other people wanted to recover money stuck in the liquidated bank from creditors by extorting it. Police believe that some creditors of the liquidated bank were told ‘to share’. Threats were used as well. One of the liquidators’ duties is not blindly dividing money for depositors, but rather checking if the money stored on bank accounts was not stolen. Police explain – creditors were threatened – if money is not paid back to Krūms, Sprūds and others, the money creditors are eligible to would be marked as illegally acquired.

«It was determined in the investigation that extortion took place when insolvency managers threatened creditors with failing anti money laundering check or passing it when there is no more money left,» State Police Public Relations specialist Gita Gžibovska told LTV.

Aside from Ilmārs Krūms and Māris Sprūds, among the accused there are businessman Mārtiņš Krūms, businessman Guntars Slišāns, financier Jorens Raitums and Timothy Kelley – and Irish citizen, businessman and one of the largest land owners in Latvia. According to information available to police – cooperation among the aforementioned men was not accidental – they had planned out each other’s responsibilities beforehand.

The only person who agreed to answer questions asked by De Facto was Mārtiņš Krūms.

«I have signed a non-disclosure agreement with police. I only provided legal services during this bank’s liquidation process,» Krūms told De Facto journalists. 
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