Released EUR 580,000 in Seized Assets

Valdemars Law Firm successfully represented a Hong Kong company in proceedings concerning the confiscation of seized funds. After victories in both the first-instance and appellate courts, the client recovered more than EUR 580,000.

Background

In 2022, Latvian authorities seized more than EUR 580,000 belonging to a Hong Kong company. The seizure was based on allegations that commercial transactions exceeding USD 15 million with business partners were suspicious, and the authorities subsequently sought confiscation of the funds.

Our Role

We represented the client throughout the proceedings, developing the defence strategy and preparing comprehensive evidence demonstrating the legitimacy of the client's business operations and financial transactions.

Following a successful outcome before the first-instance court, we continued representing the client after the prosecutor appealed the decision.

Outcome

Both the first-instance and appellate courts rejected the request to confiscate the assets. The courts concluded that the prosecution had failed to provide sufficient evidence to support its allegations and ordered the release of more than EUR 580,000 to our client.