The Riga District Court has made a judgment to recover 90,440.02 euros in favor of the former “Olainfarm” from the notorious insolvency administrator and sworn lawyer Haraldas Velmer, as well as court costs of 12,352.85 euros.
The basis of the case is Velmer’s self-made compensation payment, the forced payment of which was achieved by H. Velmer using the notarial execution act issued on September 2, 2021 by sworn notary Kristine Kreile. H.Velmers has paid compensation to himself for the decision of the shareholders’ meeting to release him from the position of council member before the deadline, when he had already lost the trust of the majority of shareholders by acting against the interests of society and shareholders. Now the Riga Regional Court has decided that H. Velmer unjustifiably demanded compensation in the amount of 132,416.02 euros for his dismissal from office, and accordingly H. Velmer will have to repay the compensation paid to him by the company, as well as cover court costs.
The proceedings of “Olainfarm” also ended identically with H. Velmer’s associate in various scandalous cases of company takeover and insolvency, investment banker and consultant Kārli Krastiņu, who in 2021 had implemented a similar compensation request with the help of a notarial executive act. Also in the case of Krastiņš, the Riga Regional Court ruled that K. Krastiņš received the compensation for the early dismissal from his position unjustified, as a result of which K. Krastiņš fully repaid the compensation paid to him to the company in the amount of 90,438.30 euros and covered court costs in the amount of 9,275.61 euros. Krastiņš was also once a member of the board of the company “Olainfarm”, most likely, together with Velmer and the then member of the company’s board, Milan Beļevičs, organizing a raiding attempt of the company’s shares worth 40 million euros in favor of the Czech shell company “Black Duck Invest”. Criminal prosecution against five persons, including Velmer, Krastiņa and Belevič, has also been started for this case, and charges have been brought against them.
The board of the company, which also included H. Velmers and K. Krastiņš, was approved at the shareholders’ meeting on April 1, 2019, setting its mandate for five years. On the other hand, in 2021, on June 17, at the Olainfarm shareholders’ meeting, it was decided to dismiss the previous council and elect a new one. As a result, Velmers and Krastiņš together with other council members lost their positions. Since K. Krastiņš and H. Velmers had lost the trust of the majority shareholders of “Olainfarm”, they were not paid compensation for early dismissal. They requested them with a notarized executive deed, submitting it without the company’s knowledge to the sworn notary Kreila and then to the bailiff Shusta. With the help of sworn bailiff Ainārs Šustas, who was later suspended from his duties in May 2022, the two notorious consultants even managed to get the account of “Olainfarm” to be blocked several times until compensations are paid against the will of the company.
As already reported, almost three years ago, on April 30, 2021, the State Police started an investigation into the case, which has probably already gone down in Latvian history as the biggest attempt at fraud and raiding. By signing a possibly fictitious share disposal agreement, the board member of SIA Olmafarm SIA, the largest shareholder of AS Olainfarm, Milana Beļeviča tried to defraud the controlling stake of Olainfarm shares of SIA Olmafarm in favor of the Czech Black Duck Invest as for more than 40 million euros.
This year, on March 21, the investigation in the criminal process was completed and a decision was made to hand over the materials of the criminal process to the Prosecutor’s Office of the Riga Court District against five persons, informs Gita Gžibovska, senior specialist of the Public Relations Department of the State Police. According to the information previously provided by the police, out of five persons, three are residents of Latvia, and two are residents of the Czech Republic. The suspects are accused of attempted fraud committed in a large organized group, and one of the suspects is also charged with abuse of power and exceeding it for greedy purposes.