The Latvian Financial and Capital Markets Commission (FKTK) received details of material frauds at Parex Bank from whistleblower John Christmas in May 2005. The FKTK refused to act. As a result, the Republic of Latvia suffered a financial and demographic crisis when the corrupt government forced the taxpayers to bail out Parex in October 2008. Now in March 2012, Christmas is still waiting for the FKTK to begin to investigate the Parex frauds. He has been unable to enter Latvia since the whistleblowing even though he is a citizen of Latvia. He has been repeatedly threatened with death for many years and Latvian authorities refuse to investigate.