Latvia’s Riga Regional Court has overturned a lower court ruling in a bribery case involving the state-owned railway company, Latvijas Dzelzcels (LDz), BNS reports. The court found LDz’s former CEO, Ugis Magonis, and Estonian businessman Oleg Ossinovski guilty of bribery, sentencing Magonis to 2.5 years in prison and Ossinovski to a fine of EUR 151,700. Also, the court confiscated part of Magonis’s assets and banned Ossinovski from public procurement tenders for three years. The ruling can be appealed to the Supreme Court. The court of first instance had acquitted the two defendants in 2021. Magonis was charged with accepting a EUR 499,500 cash bribe to help Ossinovski’s company, Skinest Rail, sell four old diesel trains to a LDz subsidiary in 2015, LSM reported.
Read Less, Know More.