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 »
The United States is currently investigating Deutsche Bank for massive Russian money laundering.
Seems that once again, Latvia was involved. Of course the racket in Latvia that hurts millions of victims in Latvia and Russia could have been stopped years ago since full fraud information about Parex Bank is openly available.
Trasta Komercbanka was a spin-off from Parex, founded by a former Parex representative.
People following Russian events have been watching and reading about Alexei Navalny’s new YouTube video about outrageous crimes involving the family of Vladimir Putin’s General Prosecutor Yuri Chaika. Chaika is connected with a gang of rapists and murderers and family members have become very rich from corruption. As usual, the money was laundered by the Latvian Proxy Network. We continue to wonder when the West will wake up to the global threat of the Putin Regime. Currently, the European Bank for Reconstruction and Development and Eurostat are using our taxes to fraudulently fund and protect the Latvian Proxy Network thus strengthening Putin.
LawlessLatvia has featured posts about the unprosecuted looting of the largest institutions in Latvia including Parex Bank, Latvenergo, Riga City, and Liepajas Metalurgs. Now we will turn to another favorite target of the Oligarchs: AirBaltic.
Millions of euros disappear from AirBaltic every year, often paid to fake companies that are supposedly providing services to AirBaltic. Evidence indicates that many of these transactions were the result of dealings between Latvian Oligarch Ainars Slesers and German citizen Berthold Flick. However we may never learn the full details since the Latvian parliament voted that Slesers has immunity from law.
Now, Latvia claims to be privatizing part of AirBaltic to prominent German investor Ralf Girmes, but we can’t know the truth about that either. Since Latvia’s privatization of Parex Bank to the EBRD in 2009 was later discovered to be fraudulent (the transaction was designed to create a fake value for Parex which was actually worthless, and the transaction was reversed 5 years later with a secret guarantee), it is possible this new “sale” will also be fake.
Now, Latvian taxpayers are pouring 132 mln euros more into the black hole which is AirBaltic. Will Brussels and Washington ever wake up and realize that the Latvian government is controlled by criminals? Ignoring this reality only perpetuates the problem.
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:
Baiba Rubess, a long-time board member at Citadele Bank, has declared to exiled and terrorized Parex/Citadele whistleblower John Christmas that Parex/Citadele is “no longer criminal.” This is interesting because Parex/Citadele never announced that they were criminal in the first place and nobody ever got prosecuted when over a billion euros disappeared and the bank was caught intermediating huge bribes (Daimler, Solaris, Alstom, Kempmayer, TeliaSonera, etc.). In fact, the government has been telling the voters since 2008 that the collapse of Parex and the national economy was caused by “Sweden.”
If Parex/Citadele wants to change from being a “criminal organization” to being a lawful organization, then it will have to take certain steps: (1) admitting that all Parex annual reports were materially fraudulent from at least 1998 to 2008, (2) admitting that the EBRD bailout in 2009 was fraudulent, (3) admitting that all Citadele annual reports from 2010 onwards have been materially fraudulent because the EBRD transaction was not explained truthfully.
Prosecutions for all Citadele directors would be an easy straight-forward slam-dunk since, following a five-year cover-up, the prime minister admitted in 2014 that the 2009 EBRD/Parex/Citadele deal was fraudulent. However the prosecutors are instead focusing on their efforts to put Parex/Citadele dissident Ilmars Poikans in prison to punish him for being honest.
The Latvian media speculates that Ms. Rubess might become the head of Rail Baltic, in keeping with government policy of appointing Oligarch loyalists to important positions.
We at LawlessLatvia are still wondering when anyone in Washington or Brussels will wake up to what is happening in Latvia.
It happened again. Yet another massive money laundering scandal in Latvia. Of course, this should be no surprise since Latvia never prosecutes anyone even when foreign governments hand completed investigations to Latvian officials. Latvia’s only efforts have been directed at whistleblowers – terrorizing them to make them shut up. Since there are only a tiny number of people who benefit (the Oligarchs and their cronies) and millions of people who are hurt (Latvians, Russians, Europeans, Americans) it is really amazing that the Western governments allow this racket to continue.
Malta licensed broker Exante has been caught by the S.E.C. in a massive fraud scheme. Although Exante is licensed in Malta, it has an office in Latvia and some employees are formerly from Parex Bank. Exante has strong relationships with two Parex successor banks Citadele Bank and M2M Bank and employees boasted of meetings with Parex Oligarch Valery Kargin. The Latvian government is responsible for this new fraud scheme because the Latvian government refused to prosecute Parex for many previous fraud schemes.
In 2008, when the public discovered that $1 bln disappeared from Parex Bank of Latvia, the government fought long and hard to cover-up for the Oligarchs. The government chased the first whistleblower into exile and started a “show trial” prosecution of the second whistleblower, at the request of offshore bank AB.LV. Many accounts from Parex moved to AB.LV when Latvia and the EBRD bailed out Parex in what was later revealed to be an Enron-style cover-up featuring a secretly reversible share transfer designed to help Latvia temporarily overstate income and understate debt while actually increasing the total bailout expense to taxpayers. In 2015, when the public discovered that $1 bln disappeared from three banks in Moldova, with the cash moving through AB.LV, Latvijas Pasta Banka, and Privatbank (Latvia), something different happened. Moldova ordered an investigation (Latvia never investigated Parex) and the Speaker of the Parliament published the investigation on his blog (in Latvia the Prime Minister lied to voters that “Sweden” caused the crash). Moldova is attempting to recoup the lost money, and the responsible Oligarch is under house arrest and expected to spend the rest of his life in prison. Contrast this to Latvia where the government made no attempt to recoup the money and the Oligarchs are free enjoying life in their Jurmala palaces. Maybe Latvia can learn something from Moldova?
The OCCRP won recognition from the European Press Prize for exposing part of the “Latvian Proxy Network” racket by which government-protected banks launder billions of dollars for organized crime groups.
The OCCRP also released a video about the assassination network used by the “Latvian Proxy Network” identifying Alexander Antonov as the big boss. Antonov was shot in 2009 when he was trying to buy AP Bank (Swiss) from Parex oligarch Valery Kargin. The fact that this bank is currently owned by the EBRD following a fraudulent bailout using our tax money was unfortunately omitted from the article and video and therefore the “Latvian Proxy Network” continues to operate with impunity.
Anyway, it’s great that some brave journalists are educating the public about some of the crime in Latvia.
From 1972 to 1991, rogue bank BCCI ran a racket using the corrupt government of Panama for protection as it provided deposit services to crooks from Colombia. BCCI convinced former American president Jimmy Carter to promote them by tricking him that they were not corrupt and they were helping to develop the Third World. When the bank was shut down in 1991, it was discovered that all of its annual reports signed by Big Four auditors were fake and actually the bank was never profitable because it was booking “loans” which were transfers to crooks who never intended to repay.
Starting from 1993 and still continuing today, rogue bank Parex/Citadele is running a racket using the corrupt government of Latvia for protection as it provides deposit services to crooks from the former Soviet Union. Citadele has convinced former Federal Reserve chairman Paul Volcker to promote them, and amazingly he has agreed even though the Latvian Prime Minister has (after fraudulently winning the October election) admitted that the Latvia/EBRD/Parex bailout in 2009 was a deception with a secretly reversible share transfer.
How large with the fraud grow? How many millions of people’s lives will be ruined? Will Parex/Citadele/Latvia/Volcker be able to surpass the old record set by BCCI/Panama/Carter?