Tet chairman accused of €7.5m fraud

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Juris Gulbis, chairman of the board of Latvian telco Tet (formerly Lattelecom) has been charged with possible involvement in fraud in the introduction of digital television in the country.

The prosecutor’s office has indicted Gulbis and four other persons for participating in fraud, as a result of which Tet suffered a reported loss of €7,585,533.

Prosecutors believe Hannu Digital, successor company to shell company Kempmayer, implicated in an earlier case launched over a deal concluded in 2002 with DLRTC ensure Latvia’s transition to digital terrestrial broadcasting is several phases, was artificially involved in the project and that Gulbis abused the trust of Lattelecom’s owners and council.

Gulbis contests the accusation and is unable to comment on it, having signed a non-disclosure deal.


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