Riga Vidzeme District Court on Wednesday decided to release former insolvency administrator Maris Spruds on bail of 500,000 euros giving him a month to secure the bail. Meanwhile he remains in custody.
Commenting on the sum of the bail, Spruds said after the court sitting that he has to try to find it. Spruds lawyer Janis Rozenbergs said that Spruds own assets are listed on his official income statement, and most of his assets are frozen, therefore he will have to find assistance from other people.
“I think it will not be easy to find the person who wants to pay this amount now, but we will do our best to make it possible in the near future. After the security deposit, we must submit both a certificate of payment and a s…
Read the full article at: https://eng.lsm.lv/article/society/crime/former-insolvency-business-high-flier-spruds-granted-bail.a267993/
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