John Christmas, the exiled whistleblower in the multi-billion-euro Parex Bank fraud and EBRD cover-up, spoke at the Offshore Alert conference in London on November 24. Even though thousands of bureaucrats in dozens of countries have known about this fraud for years, they are taking no action while the fraud continues to grow larger and ruin the lives of millions of people in Eastern Europe. Speaking together with John was Stephanie Gibaud, Sakharov prize nominee and UBS whistleblower:
The British Serious Fraud Office (SFO) refuses to take action regarding the multi-billion-euro fraud crime committed by the European Bank for Reconstruction and Development (EBRD) with regard to Parex Bank stock.
The first item below is a letter from the SFO to Parex whistleblower John Christmas and is signed by SFO director Richard Alderman. The letter claims that there was no EBRD fraud, even though Christmas’ original letter contained clear evidence of a huge fraud.
Christmas requested clarification from the SFO. The second item below is an email from the SFO to Christmas. This second reply contradicts the first reply. The reason why the SFO will not take action is because they don’t want to get involved, even though the EBRD is based in London and therefore is in the jurisdiction of the SFO.
That is a shame, because the refusal of the SFO to act only means that the Latvia/Parex fraud bubble continues to grow with the ironic result that thousands of Latvian people are forced to move the United Kingdom every month as economic refugees…
This is the false document that Parex Bank filed with the London Stock Exchange in May 2010.
The document claims that all Parex shareholders have equal status. However, in reality the European Bank for Reconstruction and Development (EBRD) had a higher status because it had a secret “put option” negotiated with the majority shareholder, the Latvian government.
This is the most likely explanation why, when Parex split into “bad bank” Parex and “good bank” Citadele, the only minority shareholder receiving Citadele stock was the EBRD.
Sadly, the false filing is unlikely to result in legal action. The British Financial Services Authority (FSA) knew about fraud and money laundering crimes at Parex for many years and chose to take no action while Parex borrowed hundreds of millions of euros in London. That money disappeared and the loans were paid back by the Latvian government using bailout money borrowed from the European Union.
This story has been completely censored in the Latvian media.
This letter by John Christmas to the British Serious Fraud Office (SFO) explains a multi-billion-euro fraud crime committed by the European Bank for Reconstruction and Development (EBRD) against all of the people in the world.
Specifically, the letter explains the “put option” fraud when the EBRD bought Parex Bank stock from the Latvian government.
This fraud has been censored in the Latvian media. Some attachments to the letter used to be at dissident website Kargins.com, but that was later censored by the Latvian government.
The UK Financial Services Authority (FSA) and Ernst & Young Global knew that Parex Bank was a fraud already in 2007. They also knew that whistleblower John Christmas was being terrorized with murder threats.
However, the FSA and E&Y chose to ignore the information and sit and watch while Parex borrowed approximately one billion euros in London through syndicated loans and bond issuances.
The money disappeared and now ordinary Latvian taxpayers must pay back the creditors with bailout funds from the European Union.