Cleared MP Sold Stake in Notorious Building
Siim Kabrits, an IRL MP who came under early scrutiny when the resident permit scandal battered his party last November, sold his share in the Toompea building where the scheme was operating.
Kabrits has been cleared of involvement in the case, in which top-level IRL politicians were found to be arranging residence permits for wealthy Russian and CIS entrepreneurs through the latters' investments in dormant enterprises, all registered in the building.
The Parliamentary Anti-Corruption Committee conducting an investigation ruled that Kabrits's role was confined to his being a co-owner of the property while his colleagues, MP Indrek Raudne and Tallinn City Councilor Nikolai Stelmach, had actually been running the operation.
Kabrits, who had invested in the building through his company Alistar Consult, sold his share to Raudne and Stelmach when it was clear that the scandal was developing, Delfi reported. Because he did not get the market rate, Kabrits ended up making a loss on the deal, he said.
According to Kabrits, the partners purchased the house during the real estate boom in 2008 with the intention of renovating the facade and reselling, but the project failed.
Beyond that, Kabrits reiterated, his role in the business was that of a passive investor.
Steve Roman