Police investigate property seizure involving lawyer Terry Lagus and Ismo Räisänen in Lahti, Finland

A property in Lahti, Finland, has had its heating cut off due to unpaid bills, and the property is now under seizure while police investigate related transactions. The property deal involves lawyer Terry Lagus and Ismo Räisänen, who has a history of financial crimes. A tax audit of Räisänen’s businesses revealed tax payment failures. Half of the property is owned by a Mikkeli-based auto repair entrepreneur, who claims to have been drawn into the situation against his will. Lagus has announced he will cease investments in the property due to unclear dealings of his partner, while the property has left numerous bills unpaid, leading to escalating debts.

This property was formerly owned by the heirs of Oskari Rajanen, a goldsmith and influencer from the early 20th century. Plans were in place for a new eight-story building on the lot. However, following the Russian invasion of Ukraine, progress stalled. The property was purchased in January 2022 by JHE-Kiinteistösijoitus oy for nearly €1.89 million.

Lagus indicated that JHE-Kiinteistösijoitus oy had unclear ownership, stating he bought half of the company from Räisänen. Meanwhile, Räisänen remains involved as a project manager, despite having sold half the company to the Mikkeli entrepreneur simultaneously with Lagus.

In January 2024, Räisänen received a two-and-a-half-year prison sentence for multiple financial crimes committed between 2016 and 2022, alongside a seven-year business ban. He was found guilty of serious tax fraud and falsifying company registry information.

Lagus claims operations at Rajasen Kulma halted once he became aware of the shady dealings, asserting he will not invest further in the property due to its unclear ownership and accumulating debts, including a substantial claim from the heirs of Rajanen. There are numerous questions surrounding why Lagus, an experienced businessman, entered such questionable partnerships.