Toomas Lepp, CEO of the municipally-owned Tallinna TV (TTV), tendered his resignation on Wednesday, the day of his arrest as a suspect in an embezzlement investigation.
Lepp was released from police custody on Friday morning, spokespeople for the North District Prosecutor's Office told BNS.
Mart Missik, Lepp's lawyer, also announced on Friday that his client had filed an application to withdraw from his position as a member of the management board of the foundation SA Tallinna TV on Wednesday already.
In addition to Lepp, the police also arrested TTV editor Mart Ummelas and an additional two individuals who are not employees of TTV in connection with the same investigation. One legal person has been declared a suspect in the case as well.
The actions taken on Wednesday were the first public procedural acts under the criminal investigation launched at the end of June in which the large-scale embezzlement of TTV funds was investigated.
According to initial allegations, Lepp had, over a period of several years, had TTV pay the monthly invoices presented to it by companies linked to him for services not actually rendered. According to the prosecutor, there are grounds to believe that the damages caused to TTV could amount to a couple hundred thousand euros.
TTV is a television station belonging to the Tallinn city government via a foundation of the same name.
Editor: Editor: Aili Vahtla