At least two thousand savers from all over Europe have invested money in the Baltic investment platform Envestio. Now they wonder: where did all the money go?

In January this year, the website was closed, the management has disappeared, as well as large parts of the accounting. Now both fraud and bankruptcy investigations are ongoing.

SVT's review shows that at least SEK 7 million of the investments ended up with the company SIA Tukums, which is controlled by two controversial influential entrepreneurs in Latvia. Both have strong links to Latvia's highest political level. The company is partly owned through a holding company in Cyprus.

Denies SVT interview

One is Uldis Mierkalns. Among other things, he is one of Latvia's largest forest owners. He is also the person in the country who donates the second most money to Latvian politicians.

In recent years, Uldis Mierkalns has paid large sums to one of the parties that are part of the country's current government coalition. Photo: Knut Kainz Rognerud

Uldis Mierkalns does not want to be interviewed by SVT but wishes to say through his secretary that he has "no relationship whatsoever with Envestio". He also confirms the co-ownership of SIA Tukums.

The other owner of the company is the controversial businessman Martins Tenbergs.

Martin Tenbergs is a former bodyguard to former President Vaira Vīķe-Freiberga. He has for a decade run the disputed security company TM Security.

Martins Tenbergs was called the "gray cardinal". Photo: Knut Kainz Rognerud

Called the "gray cardinal"

Tenbergs and TM Security played a central role when former President Valdis Zatler formed Zatler's reform party in 2012, with Tenbergs being called the "gray cardinal" because of his political influence.

SVT has repeatedly searched Martins Tenbergs without results.

Uldis Mierkalns first says that he has no relationship with Martin Tenbergs but then says that if he has any kind of relationship with him then it is very "antagonistic and negative" because Mierkaln's "lost money" in the joint company SIA Tukums because of Tenberg's .