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Lawless Latvia provides information about Latvian crimes that are ignored by the corrupt media and authorities. Latvia is the offshore banking center for the former Soviet Union, to the detriment of everyone in the world including Latvians and excluding only a few Oligarchs. The EBRD, EU, IMF, and World Bank are making the problem worse by funding the Oligarchs, fraudulently in the case of the EBRD. Please like or friend us on Facebook and follow us on Twitter. Learn more about this site »

European Central Bank: idiots or criminals?

It’s been a big week for money laundering news from Latvia.  The US’s FinCEN blacklisted AB.LV Bank.  And, KNAB raided the home of Latvian central bank governor Ilmars Rimsevics.

The Media has missed a larger story however.  What is going on at the European Central Bank (ECB)???

After the bailout of Parex Bank, which has been confirmed fraudulent, guess who started buying Latvian bonds?  The ECB did!  The ECB had full knowledge that the Parex bailout was a fraud and that therefore Latvia was also a fraud, and at the same time became the biggest ‘investor’ in the fraudulent bonds issued by Latvia.

And, to make matters even worse, the ECB allowed Latvia to enter the euro currency with full knowledge that Latvia was a fraud.

Now this week we can add two new embarrassments.  Everyone in Latvia has known for many years that Parex used to and ABLV still does launder Russian Mafia money.  But somehow the ECB doesn’t know, even though the ECB is the regulator for ABLV.  How can two million Latvians know something however the regulator doesn’t?

Also, the ECB must know that Rimsevics is corrupt and working in the interests of Parex and ABLV.  For example, after Rimsevics organized the fraudulent Parex bailout, he was caught by whistleblower ‘Neo’ paying a large secret bonus for himself using the small bit of Latvian taxpayer money that hadn’t already been stolen.  And then, prosecution commenced against ‘Neo’ instead of against Rimsevics, at the request of ABLV.

Rimsevics is on the council of the ECB, making important decisions for all of Europe.  And somehow the ECB doesn’t know he is corrupt?  The ‘Neo’ information has been in the newspapers for years.  We have been sending letters to the ECB for years and they never woke up.

The fact that the US had to take action against ABLV because the ECB was sound asleep is a huge embarrassment to the Europe and especially the ECB and we hope the Media will publicize this problem.

Putin Mafia List and Latvia

The US Treasury has released a list of key people in the Putin Regime which has been dubbed the ‘Putin Mafia List’ by the Media.  These are people who are likely to be sanctioned in the future, particularly if Putin continues military attacks and election interference against other countries.

Some people on the list are connected with Latvia.  Not only connected, but apparently controlling the Latvian government.

Oligarchs Petr Aven, Oleg Boyko, Mikhail Fridman, Yuriy Shefler, and Viktor Vekselberg appear to have significant control over the Latvian government through local Oligarchs Valery Kargin and Viktor Krasovitsky.  It is openly known that Aven and Fridman discussed purchasing Parex Bank from Kargin and Krasovitsky before half of the assets of Parex disappeared instead.  The government says the Parex assets disappeared because of the USA and Sweden however there is no evidence supporting this story.  Since Boyko and Shefler were big borrowers for Parex, it’s possible that much of the money went to them.  Meanwhile Vekselberg also got involved with Parex regarding a property scam for the State Revenue Service.

Also Oligarchs Arkadiy Rotenberg and Boris Rotenberg appear to have significant control over the Latvian government through local Oligarch Yuri Savitsky.  Savitsky is openly known to be former KGB.  He is immensely wealthy because the Latvian government gave him a lot of state assets.  His bank VEF and Skonto’s Multibanka (also KGB-linked) were sanctioned by the US Treasury in 2005.  The Rotenbergs bought Multibanka and re-named it SMP Bank.  Then SMP Bank was sanctioned by the US Treasury in 2015.  Now the bank is renamed Meridian Trade Bank.  It’s amazing how a bank can escape sanctions by renaming itself every few years.  All of these Oligarchs are involved with the KGB/Gazprom ice hockey team called Dinamo.

So much for the myth still promoted in the Western media that the Latvian government is geopolitically allied with NATO and the EU.  Actions speak louder than words and although the Latvian people mostly prefer NATO and the EU it is clear that the government is on Putin’s side.

‘Putin List’: Putin’s Mafia Who Are Financially Raping The Russian People

EBRD openly criminal

The European Bank for Reconstruction and Development is funded by 65 countries with a mission of fostering transparency and democracy in 30 countries.  From 2009 to 2014, the EBRD was caught running a scam with the Latvian government to temporarily cover-up the disappearance of the assets of Parex Bank.  The government claims that Parex collapsed because of the United States and Sweden, however the real recipients of the disappeared assets were likely Russian oligarchs and Latvian politicians.

From 2009 to 2013, the EBRD insisted that it really bought Parex shares and denied rumors that the privatisation was planned to be reversed by a secret guarantee (‘put option’) in 2014.  When the Latvian government did reverse the privatisation in 2014, proving that the EBRD was lying and the privatisation was a fraud, then the EBRD became silent.

However now something amazing has happened.  The EBRD had admitted on its own website that it is offering a fraud service!  This webpage states that the EBRD will buy shares in a company if the seller guarantees to reverse the investment later!  There is only one reason why a seller (for example a national government) would effectively pay the EBRD to temporarily claim to be owner of shares.  This reason is fraud!  Such transactions are completely illegal since they mislead creditors about the true value of the shares, which for a corrupt and looted government company is usually zero.

We wonder how many of the EBRD’s 30 countries currently have false financial statements because of this racket.

EBRD webpage:

http://www.ebrd.com/work-with-us/project-finance/equity/direct-equity.html%20

pdf in case the EBRD takes down the webpage:

ebrd put option

Oleg Boiko website! Tons of info.

Somebody put up a website with tons of info on Russian Oligarch Oleg Boiko.  We didn’t know all of this, for example that Boiko represented the Kremlin trying to engineer a Communist takeover in Moldova in 2013.

Boiko is well known in Latvia as ‘business’ partner to Valery Kargin, Viktor Krasovitsky, and Andris Skele.

Hopefully the US and EU will wake up and add Boiko (and Kargin, Krasovitsky, and Skele) to the sanctions lists.

http://olegvboyko.website/

pdf in case website taken down:  olegvboykowebsite

https://theblacksea.eu/malta-files/article/en/cash-loans-czar-maltese-tax-escape-plan

pdf in case website taken down:  boykomalta

 

 

Latvia launders for North Korea

The Latvian media is reporting today that the Latvian Proxy Network was laundering money for North Korea from 2009 to 2015.  Apparently the United States FBI discovered this problem and pressured the Latvian FKTK to fine the banks, however the fines are insignificant, as usual.

The articles today don’t mention another connection to North Korea.  Parex Bank was caught giving $111 million cash for free to Eduard Khudainatov, a member of Vladimir Putin’s inner circle who is sanctioned by the US Treasury for his links to North Korea.  Parex booked the gift as a loan even though it doesn’t have collateral.  When Parex fraudulently transferred it’s liabilities to Latvia in 2008/2009, the full loss went to the taxpayers.  However Latvian authorities still amazingly blame the disappearance of the assets of Parex on the US and Sweden and the mainstream media and Brussels are still going along with this absurd lie.

http://eng.lsm.lv/article/society/crime/latvian-banks-used-to-fund-north-korea.a241340/

Oligarchs Kargin and Koval still at it UPDATED: Boiko

The collapse of Latvian and Estonian payday lender MiniCredit shows that banking oligarchs Valery Kargin and Dmitri Koval are still at it, not slowing down their activity even after Kargin’s Parex Bank was revealed as a pyramid fraud and then fraudulently bailed out by the corrupt Latvian government.

Apparently Kargin and Koval worked with Rolands Petersons of PrivatBank, which was also a pyramid fraud, to license MiniCredit in Latvia and Estonia and amazingly given their histories were granted licenses.

They then opened a bank account at Citadele Bank, which is a successor to Parex and still apparently controlled by Kargin since his top offshore banker Valery Hudorozhkovs is still there.

A large amount of money was somehow run through MiniCredit’s account and then disappeared.  Some of this was presumably from low-income clients with payday loan accounts.  And perhaps some of it was from Russians running money through the accounts for laundering purposes, given the size of the withdrawals relative to the size to the company’s legitimate activities.

An interesting detail of this case is about Koval, whose Saules Bank of Latvia was caught laundering money although authorities never bothered to prosecute anyone.  Saules Bank is today merged into Rietumu Bank which is also a money launderer.

Just after Parex whistleblower John Christmas gave details of massive frauds at Parex to Latvian authorities in 2005, who ignored the information, Koval invited Christmas to meetings to discuss establishing a new bank in Latvia to serve Koval’s clients, who he described as Jewish billionaires in Moscow.  Koval wanted Christmas to be a front for the bank, making it seem like an American bank even though the clientele would be Russian.

Kargin and Koval don’t need Christmas to be their American front anymore since they found someone better.  Supposedly former Fed chief Paul Volcker is the owner of Citadele today, although we doubt Volcker has any clue what is happening there.

We continue to hope the EU and US authorities will wake up and realize that the Latvian government is running a racket to help Russians steal money from Europeans, Americans, and especially Latvians.

http://www.lsm.lv/en/article/economics/economy/payday-lenders-strange-transactions-uncovered-in-estonia.a221430/

UPDATE:  Oleg Boiko, also from Parex Bank and therefore also being protected by the European Bank for Reconstruction and Development, is also still active providing high-interest loans to desperate poor people.  http://theblacksea.eu/malta-files/article/en/cash-loans-czar-maltese-tax-escape-plan

Latvian connection to Trump dossier

The headlines all week have been about the Trump dossier which is a memo by ex-MI6 officer Christopher Steele containing unverified information that the Putin Regime has been blackmailing Donald Trump to allow Russia to attack Ukraine.

Part of the memo is about Alfa Group of Russia, which was closely linked to Parex Bank of Latvia.  Alfa Group oligarchs Mihail Fridman and Piotr Aven are close friends with Parex oligarchs Valery Kargin and Viktor Krasovitsky.  According to the media, Alfa was negotiating a purchase of Parex in 2007.  Alfa apparently decided not to purchase Parex and instead a billion euros of Parex assets disappeared and Parex liabilities were handed to Latvian taxpayers in 2008 as Parex’s offshore banking employees and clients were shifted to Citadele Bank and AB.LV.  The government made no attempt to recover the missing billion and didn’t bother to prosecute anyone despite clear evidence of massive frauds.

Aven in particular is well known in Latvia because he together with Russian oligarch Yuri Shefler control Latvijas Balzams.  When Latvian oligarch Andris Skele invited them to Latvia to become owners of this state company, there were approximately seven assassinations of Latvian citizens linked to the transaction.  Parex made illegal fraudulent loans to Latvijas Balzams which were never investigated.

The memo names Latvia as a country where Russia is bribing people.  This is consistent with the fact that Latvian politicians decided to give a quarter of the national budget to Parex in 2008/2009 thus causing the economic and demographic collapse of Latvia.  Still today there has been no investigation and the government is still lying that “Sweden” caused the collapse.

We welcome a whistleblower from within the UK/US intelligence agencies.  For many years, the UK/US intelligence agencies have been protecting Putin’s oligarchs by keeping information about their crimes secret.  Maybe now they can arrest the criminals instead of protecting them.

https://www.theguardian.com/us-news/2017/jan/12/intelligence-sources-vouch-credibility-donald-trump-russia-dossier-author

Kalnmeiers and the KGB

It has been a mystery for a few years why new Latvian General Prosecutor Eriks Kalnmeiers, just like his predecessors, has been unable to prosecute any of the criminals from the KGB who have been stealing enormous amounts of money from Latvian taxpayers.  For example, why couldn’t he prosecute the criminals from Parex Bank and Riga Transportation who organized the Daimler/Solaris kick-back scheme?  A whistleblower gave information to the prosecutors.  The FBI completed a case and gave that to the prosecutors also.  But despite being handed full information and a full case, the prosecutors still didn’t do anything.

Some new information has come out giving us a glimpse into Latvia’s “deep state” which is the real government behind the fake façade of constitutional democracy.

It seems that General Prosecutor Kalnmeiers is close friends with the KGB Oligarchs which could explain his inability to prosecute them.  Specifically, he is in a small hunting group with Yuri Savitsky, Leonids Loginovs, and Guntis Ravis.  KGB agent Savitsky controls gas transit in Latvia on behalf of the Kremlin.  KGB agent Loginovs controls Port of Riga on behalf of the Kremlin.  And, Ravis runs KGB-successor Skonto which among other things charged Latvian taxpayers over a billion euros to construct a small bridge over the Daugava which should have cost a couple hundred million euros.

By extension, we can assume Kalnmeiers is also friends with the other KGB functionaries who run the Latvian economy: Viktor Krasovitsky, Valery Kargin, and Kirovs Lipmans.  This could explain why the Latvian government has illegally given billions of euros to these KGB agents while ordinary Latvian people suffer in poverty and nobody ever gets prosecuted.

We continue to hope that bureaucrats in Washington/Brussels/London wake up and realize that Latvia is a KGB Mafia state.  If the Western bureaucrats cut off all funding to Latvia until Latvia arrests the KGB Oligarchs, then finally Latvia can have real democracy and prosperity.  Millions of people inside and outside Latvia will benefit.

http://www.lsm.lv/lv/raksts/latvija/zinas/izdevumskalnmeiers-vairakus-gadus-piedalijies-medibas-kopa-ar-uznemejdarbibas-smagsvariem.a126686

 

Privatbank nationalized, a repeat of the Parex saga?

The Ukrainian government announced on December 18th that it nationalized Privatbank.  According to the Kiev Post, the reason is because 80% of the loan portfolio is insider loans.  In other words, the bank was a pyramid fraud and the assets were stolen.  Now, Ukrainian taxpayers are expected to repay the bank’s deposits.

The numbers seem to indicate that the Ukrainian national debt could double from this.  It’s a repeat of the nationalization of Parex Bank which doubled Latvia’s national debt.

Privatbank maintains a subsidiary in Latvia that is specialized in money laundering.  Latvia is an excellent location for money laundering because (1) it is in the European Union and (2) the government is 100% corrupt and never enforces money laundering laws.

The big money laundering oligarchs, Valery Kargin and Viktor Krasovitsky of Parex and AB.LV in Latvia, Ilan Shor with several banks in Moldova, and Ihor Kolomoisky with Privatbank in Ukraine and Latvia, all appear to be friends with each other because often their money laundering schemes are done in cooperation.  They have now successfully destroyed the economies of all three countries.

We wonder when the international community will stop bailing out these frauds and instead force Latvia/Ukraine/Moldova to put these oligarchs in jail and take back the stolen money?

UPDATE: Government nationalizes PrivatBank, guarantees deposits