In December 2013, exiled Parex Bank whistleblower John Christmas was contacted by an investigator. The investigator was originally using a false name. The investigator made statements connecting Parex Bank, Rietumu Bank, and Regional Investment Bank (Regionala investiciju banka) to the looting of billions of dollars from BTA Bank of Kazakhstan and Anglo Irish Bank of Ireland.
This is a description of the case:
The investigator, in emails, made frequent use of the term “Latvian Proxy Network” to describe “a large money-laundering network” of Latvian offshore banks that work in cooperation, often using the same shell companies, for “hiding/cleaning billions of dollars.”
In March 2014, a second investigator from a different organization also started asking Christmas about the same case.
Parex (now called Citadele) is fraudulently funded by the EBRD using your tax money.
The Latvian government hired Chris Gwilliam to run Parex Bank and then Reverta resolution company. His objective seems to have been covering-up the fact that Parex was a fraud and the bailout of Parex was also a fraud. He claimed that his objective was to recover as much money as possible for taxpayers, but obviously he did not do that because the Latvian government did not sue and prosecute Valery Kargin, Viktor Krasovitsky, and Ernst & Young. A contact informed LawlessLatvia of Gwilliam’s secret departure in December. That contact was afraid for his life and refused to repeat the story when asked. Gwilliam’s departure has been completely censored from the media. Gwilliam is featured in the 2013 LatviavEBRD Youtube video.
UPDATE: We are not certain why Gwilliam fled from Latvia, however we speculated it was because of massive money laundering and fraud at Parex. Now, a credible source has given a different explanation. The source claimed to know that Gwilliam was questioned by the United Nations Security Council about arms sales from Belarus through Latvia to Togo and Ivory Coast. According to the source, Parex was “aiding and abetting the contraband.” Remember: Parex (now named Citadele and Reverta) is fraudulently funded by the EBRD using your tax money.