Riga Police bust alleged Ponzi scheme linked with Reign player

[Bojovnik 487]

Law enforcement agencies in the Latvian capital, Riga, announced on Friday that they had uncovered an alleged Ponzi investment scheme that had ties with a player currently on the VHL’s Riga Reign roster.

 

Janis Strelnieks, the press officer for Latvia’s national law enforcement agency, told a press conference that investors in the Sportopol scheme, which sold consultancy and advice services to young athletes, lost an estimated 50 million euros total.

 

Riga Reign defenceman Jan Hlozek produced promotional materials for Sportopol over the past two seasons, and Strelnieks said that the Czech defenceman had financial ties with the organisation.

 

“Officers in our financial crime department investigated Sportopol following tip offs from a number of people who claimed that they lost money in the scheme. We are continuing to investigate whether a player from the Riga Reign was linked with the organisation, and we will be pursuing all lines of enquiry,” Strelnieks said.

 

News agencies have attempted to reach Jan Hlozek and his representatives for comment, and Hlozek’s agent, Miroslav Preissinger, published a statement denying any known links between Hlozek and Sportopol.

 

“My client Jan Hlozek received an endorsement from Sportopol to appear in broadcast advertising materials, but my client had no other financial ties with Sportopol nor the people who ran the company,” Preissinger said.