Tere AS' Oliver Kruuda arrested on suspicion of tax fraud
Dairy producer Tere AS’ CEO Oliver Kruuda was arrested as a suspect in a tax offense case on Tuesday. He and five others are suspected of having committed or aided and abetted income and value-added tax fraud in the amount of €375,000.
Six individuals suspected of having committed tax offenses were detained on Tuesday. Four of them are employees of Kruuda’s Tere AS, one of Estonia’s largest dairy companies. The North district prosecutor’s office stated that it would only release Kruuda’s name, as the other suspects weren't persons of public interest.
Senior prosecutor Maria Entsik told ETV’s “Aktuaalne Kaamera” on Tuesday that the six are suspected of having committed both income and value-added tax fraud, the former in the amount of €250,000, and the latter in the amount of €125,000. The investigation in the case began in December 2015, she said.
According to Entsik, Tere AS’ offices as well as the suspects’ homes were searched. Kruuda and the five other suspects will remain in custody for 48 hours.
The company’s statement in reaction to Kruuda’s arrest read that its management was convinced that all its accounting had been done in accordance with the law.