One of the items from John Christmas’ Parex Bank whistleblowing list from 2004 was that Parex secretly owned a bank in Russia.
Christmas claimed that Parex owned and operated Extro Bank. For example, the Parex Credit Committee approved the loans that Extro Bank extended. Latvian State Controller Inguna Sudraba was on that committee.
The fraud claim is backed up by an email written by Parex vice president Gene Zolotarev. The claim is also backed up by a Skype conversation (below) with former Parex manager Christa Rubstein. She also confirms in the conversation that Parex paid employee compensation illegally.
Even though three witnesses wrote that Parex owned Extro Bank, the auditors at Ernst & Young did not care at all and ignored the huge fraud.
Therefore, Parex was able to sell Extro Bank to Banco Santander. Santander is one of the largest banks in Europe and has millions of shareholders in Spain and the United Kingdom.
According to emails (below) from a private investigator who contacted Christmas, Banco Santander got “robbed” in the purchase. The loss could have been 40 or 50 million euros.
Law enforcement is not interested at all, as usual. Also, the media is not interested.