Welcome to Lawless Latvia

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 »

EY again! Unbelievable…

Think of Ukraine.  More corrupt than Latvia?  Maybe not.  When undeclared insider loans caused Ukraine’s Privatbank to collapse, the government commenced a lawsuit against PWC to recover $3 billion.

In Latvia, the government could have sued EY for $1 or $2 billion for the Parex collapse.  A whistleblower handed information about undeclared insider loans to EY a few years earlier and those same loans were some of the worst assets at Parex.

EY then ‘audited’ both Parex and ABLV’s annual reports for 2008 which was the year when the government transferred money to Parex to help a lot of Parex clients withdraw their deposits and re-deposit the money at ABLV.  Maybe some assets or equity was also shifted around, who knows?

But here is the crazy new story – EY has been appointed to audit the liquidation of ABLV!  Latvia isn’t suing EY and instead is giving them access to billions more dollars!

Corruption in Latvia has reached a point where it is just a game between the corrupt bankers and corrupt administrators to divide up loot, while regulators and prosecutors do nothing and pretend they don’t know what is happening.  Anyone interested in investing here?  Ha ha.  Certainly not us, until the EU or US helps Latvia to arrest the perpetrators and put them in jail.

Baltic Rim Economies

You can’t read about the largest fraud racket in Eastern Europe in the Wall Street Journal, Economist, Bloomberg, Guardian, Financial Times, New York Times, or Washington Post.  They refuse to publish articles about EBRD support for Vladimir Putin’s money launderers.  However now you can read about it in Baltic Rim Economies!  BRE is a publication of the Pan-European Institute at the Turku School of Economics at the University of Turku in Finland.  Thanks for publishing!

pdf of article:

BRE May 2018

link to entire May 2018 edition:

http://www.utu.fi/en/units/tse/units/PEI/BRE/Documents/BRE_2_2018.pdf

 

Society for Baltic Security 2018

The Society for Baltic Security ‘SBS’ held its Annual International Conference on April 27 and 28.  The conference was titled ‘Society. Person. Security – 2018’ and was sponsored by Riga Stradins University and Baltic International Academy.  Exiled whistleblower John Christmas made a presentation at the conference by video.

The conference marked the first time a truthful and public discussion was held in Latvia about the Latvian Financial Crisis which began in 2008 when the government transferred a quarter of the national budget to Parex Bank.  Earlier conferences organized by other groups censored two key aspects of the Parex bailout:  there was an ignored whistleblowing three years before and the privatization to the EBRD was fraudulent.

This is the program:

2018_SBSBSA_Programma.last.lv.ru.engl-2

This is the video:

Sally Painter: Latvia’s Paul Manafort?

Washington lobbyist Paul Manafort is in the headlines because a US Grand Jury charged him with ‘Conspiracy against the United States.’  He accepted fees from Oligarch Deripaska and President Yanukovich for helping them to steal billions of dollars from millions of poor people, thus destabilizing Ukraine.

When will a US Grand Jury charge Washington lobbyist Sally Painter?  She accepted fees from Parex Bank and ABLV Bank for helping them steal billions of dollars from millions of poor people, thus destabilizing Latvia.  Some of the dirty money from Ukraine also went through these banks, so she helped destabilize Ukraine also.

While Vladimir Putin’s Tambovskaya Mafia ran money through Parex, Painter was working to convince the US government to ignore whistleblower information that Parex was a money launderer and a pyramid fraud.

When the pyramid fraud collapsed, thus proving she was a liar, she didn’t slow down at all.  Painter moved from Parex to ABLV along with other key Parex employees and many shell company bank accounts.

Luckily for Latvia and Ukraine, the US Treasury finally decided to ignore Painter.  US Treasury officials saw that ABLV was exactly the same as the old Parex and therefore FinCEN blacklisted ABLV.

Hopefully, the nightmare is over.  However we wonder: (1) how many billions of dollars were stolen from Latvians and Ukrainians because of Painter’s efforts? (2) how much did she get paid for that?

http://www.bluestarstrategies.com/about/our-team/sally-a-painter

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/