UPDATED: Bloomberg picks up story!

UPDATE – 26 AUGUST 2014 ON BFW (BLOOMBERG SUBSCRIBER SERVICE):

Dutch Lawmaker Asks Eurostat to Review Latvian Accounts
2014-08-26 11:29:53.256 GMT

By Corina Ruhe
Aug. 26 (Bloomberg) — Financial statements for Latvia are non-compliant with Eurostat standards, Pieter Omtzigt, Dutch member of parliament for the Christian Democrats, says in letter to Eurostat.
* Says Lavia “sold” shrs of nationalized Parex Bank to
European Bank for Reconstruction and Development in 2009
with secret “put option”, requiring Latvia to buy back the
shrs in future, guaranteeing unknown profit to EBRD at
expense of Latvian taxpayers
* Says money for Parex was only a loan effectively
* Says put option was major breach of European standards
* Says Eurostat obliged to instruct Latvia to restate
financial statements back to 2009; to include amount of put
option as debt
* NOTE: Latvia plans to sell Citadele this year
* NOTE: Dijsselbloem Says EBRD Has Put Option on Citadele,
Reverta Stake

For Related News and Information:
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–With assistance from Aaron Eglitis in Riga.

To contact the reporter on this story:
Corina Ruhe in Amsterdam at +31-20-589-8526 or cruhe@bloomberg.net To contact the editors responsible for this story:
Fergal O’Brien at +44-20-7330-7152 or
fobrien@bloomberg.net

ORIGINAL POST – 10 JULY 2014:

We have been sending emails to Bloomberg for years that the EBRD/Latvia/Parex bailout was fraudulent because of a secret put option, and finally they have picked up the story!  This is one of the largest frauds of the European Financial Crisis, and is even larger if incoming rumors are true that the EBRD has committed similar frauds in other countries.

http://www.businessweek.com/news/2014-07-10/dijsselbloem-says-ebrd-has-put-option-on-citadele-reverta-stake

 

Trasta Komercbanka and Putin Family

Trasta Komercbanka, run by a former Parex banker (Igors Buimisters) and a former Saeima chairman (Alfreds Cepanis), launders billions for Putin’s family through Latvia still now in 2014:

https://reportingproject.net/the-russian-laundromat/

Dutch articles about EBRD Latvia fraud

Hurray for the Dutch media!  Maybe in the future Latvia can have a free media like this.

Articles about the 26 August 2014 letter from MP Pieter Omtzigt to Eurostat:

http://925.nl/archief/2014/08/26/breek-vragen-letland

http://politiek.thepostonline.nl/2014/08/26/eurostat-werkt-mee-aan-boekhoudfraude-bij-letland/

http://www.dagelijksestandaard.nl/2014/08/omtzigt-wil-dat-eurostat-schuld-letland-herberekent

Dutch journalist David Bremmer published an article in both Algemeen Dagblad (15 August 2014) and Het Parool (16 August 2014).

https://blendle.nl/i/ad/wordt-letland-het-nieuwe-griekenland/bnl-adn-20140815-3448345/r/sh-em

Dutch journalist Jean Wanningen published an article about the Latvia/EBRD/Parex fraud.

http://www.dagelijksestandaard.nl/2014/08/wetteloosheid-letland-is-topje-van-de-ijsberg

Dagelijkse Standaard 15 Aug 2014

Dagelijkse Standaard 15 Aug 2014 Eng

 

Previously, Dutch journalist Arno Wellens published a series of articles about the Latvia/EBRD/Parex fraud.

http://925.nl/archief/2014/07/15/kredietcrisis-zelfs-dijsselbloem-lijkt-het-niet-meer-te-snappen

925 article 15 Jul 2014

http://925.nl/archief/2014/01/07/letse-banken

925nl7jan2014

925nl7jan2014eng

http://925.nl/archief/2014/01/08/baltische-banken-deel-2

925nl8jan2014

925nl8jan2014eng

http://925.nl/archief/2014/01/16/nomura-hielp-letland-probleemschulden-te-verhullen-baltische-ban

925nl16jan2014

925nl16jan2014eng