Riga Transportation, Solaris Bus, Dienas Bizness, Viktors Zakis

Dienas Bizness is one of the oligarch-controlled newspapers in Latvia.

To the credit of DB, they did publish a story about John Christmas’ 2004/2005 whistleblowing against Parex Bank.  However, they did not publish the story until 2007.

The story contains some details of the material fraud at Parex that related to the corrupt sale of buses from Solaris to Riga Transportation.

At the time of this story in 2007, Viktors Zakis was spokesperson for Parex.  He is quoted in the article claiming, falsely, that Christmas’ whistleblowing was investigated and was not truthful.  When Parex handed its liabilities to the Latvian taxpayers in 2008, Zakis became spokesperson for Riga Transportation.

When the United States Department of Justice confirmed that Christmas’ whistleblowing was truthful in its Daimler settlement announcement in 2010, the Latvian media went silent again.  DB refused to link the 2007 story to the 2010 USDoJ announcement.

pdf snapshot from 18 March 2012:

DB Riga Transportation

link, if not yet censored by Latvian authorities:

http://www.db.lv/citas-zinas/vairakus-gadus-censas-pieradit-nelikumibas-parex-204411?cp=1

 

VIP Avia and Parex Bank

Parex Bank used to have a subsidiary called VIP Avia.  In the early 2000’s, consultant ABN AMRO advised Parex not to have this frivolous subsidiary, the function of which was providing private jets for the Parex oligarchs.

Parex did not react by selling the subsidiary.  Instead, Parex changed its balance sheet to show VIP Avia as a loan to an unrelated party instead of a subsidiary.

This reaction was illegal.  However, Latvian authorities refuse to prosecute the responsible people from Parex and Ernst & Young.

John Christmas blew the whistle on this fraud in 2004/2005.  Dienas Bizness newspaper published an article about this fraud in 2009.

pdf snapshot from 18 March 2012:

DB VIP Avia

link, if not yet censored by Latvian authorities:

http://www.db.lv/citas-zinas/vip-avia-ierosinats-arpus-tiesiskas-aizsardzibas-process-134233