ECB letter about EBRD fraud and PWC response

Exiled Parex Bank whistleblower John Christmas wrote a letter to the European Central Bank about the 2009 EBRD fraud in Latvia and 2013 EBRD fraud in Lithuania.  The letter was sent from Rome to approximately 650 people in December and January.  You must click this link twice to get to the pdf:

ECB letter scan

UPDATE:  PWC sent a reply that sums up the attitude of thousands of professionals who have known about the EBRD/Parex/Latvia fraud for years but are pretending they don’t know about it while it continues to grow.  PWC is claiming that the letter sent to them was “mis-posted” even though it was clearly marked with a note that they signed the false 2009 Parex Bank annual report.

Perhaps this is no surprise given PWC’s horrible history in the former USSR.  They signed annual reports for Gazprom for years will full knowledge that billions of dollars were being skimmed.  And, they signed annual reports for Yukos for years with full knowledge of massive frauds there.  PWC only canceled their endorsement of Yukos when Russian authorities threatened to arrest PWC employees.

Here is the PWC email about the ECB letter:

From: [email protected]

To: [email protected]

Subject: Letter

Dear John,

We have received a letter addressed to a Mr Draghi that seems to have been mis-posted. The subject is EBRD helping falsify financial statements. As this letter is of a sensitive nature we have destroyed it and taken no copies.

Kind regards,

Gemma Morton

PwC PA to Kevin Burrowes & Symon Dawson

Deloitte joins EBRD in criminal attack against Eastern Europe

The criminal attack by the EBRD against the people of Eastern Europe has been going on for two decades with no end in sight.  In the 1990’s, the EBRD funded multiple criminal banks in Russia using our tax money.  In 2009, the EBRD covered-up fraud at Parex Bank of Latvia with a fraudulent share purchase.  And now, with help from Deloitte, the EBRD has launched a criminal attack against the people of Lithuania.

Perhaps this is surprising since the EBRD and Deloitte both blab on with rhetoric about how they are opposed to fraud and corruption and they love whistleblowers.  Perhaps this is also surprising because European officials are doing nothing even though they also blab on with the same rhetoric.  Nevertheless, this is what is happening.

Deloitte was notified of the EBRD’s fraudulent purchase of Parex stock, with a secret side agreement to sell the worthless stock back to the Latvian government.  The purpose of the fraud was to fool Latvians, Europeans, and creditors that Parex and Latvia were not frauds even though they were.  Sadly, the people at Deloitte refused to cancel their fake audit opinions of the EBRD.

The EBRD, knowing that they “got away with” the cover-up in Latvia, decided to strike again.  This time, the victims are the people of Lithuania.  The EBRD has fraudulently covered-up the truth about Ukio Bank at Lithuanian taxpayer expense.

The following is an email from a journalist to exiled Parex whistleblower John Christmas regarding the EBRD’s involvement in Siauliu Bank in 2011 and Ukio Bank in 2013.  The journalist interviewed Christmas by phone and said (1) the EBRD funding of Siauliu and Ukio was fraudulent and similar to Parex, (2) Siauliu and Ukio had criminal reputations similar to Parex, and (3) the funding was (again) intermediated by Bridge Capital and LAWIN of Latvia.  The journalist said he was using a fake name because he was afraid of being assassinated by the KGB.  He hints at that in the email.

Date: Wed, 4 Sep 2013 14:51:33 +0300
Subject: Re: ebrd in lithuania
From: [email protected]
To: [email protected]

Dear John,

Thank you for your reply. Maybe we can have a skype conversation tomorrow, and afterwards we can fill the information gaps via e-mail. I am a journalist covering finance sector, and since the first bank went broke in 2011 (second one – 2013 march) the main focus of my analyses and publications has been the practice of managing banking crises in Baltic states. Few months ago I’ve had interviews with high figures of certain Lithuanian institutions, and they confirmed me that the last EBRD deal with buying good assets of the failed Ukio bank via it’s controlled Siauliu bank was completely fraudulent and very similar to the EBRD/Parex deal Latvia. I’ve covered most of the public information about Parex and your enormous efforts trying to show that the taxpayers were tricked on a big scale.

What time would you prefer to have a Skype talk tomorrow?

Dear John, thank you one more time for the reply, because we don’t want our taxpayers (which I am a part of) to pay for corrupt deals and hopefully your input will fill in the information gaps that I still have.

P.S. If you don’t mind, I will be contacting you under this surname since the corruption here in Lithuania is as bad as in Latvia, so this would be a healthy precaution for me.

Best wishes and again – thank you!


On Wed, Sep 4, 2013 at 10:54 AM, John Christmas <[email protected]> wrote:

Dear Jacob,We can communicate with emails. Or, if you prefer, we can talk on Skype. I am in my office now for a few hours.

I assume you are writing to me because you saw the new Youtube video “Latvia EBRD Fraud 2013.”


Date: Mon, 2 Sep 2013 11:51:26 +0300
Subject: ebrd in lithuania
From: [email protected]
To: [email protected]

Hello Dear Mr. John Christmas,

I am writing under a surname from Lithuania where we have experienced the dealings of EBRD as well since there has been a very mysterious acquisition of a failed bank Ukio bank by EBRD controlled Siauliu bank. We have been doing a journalistic investigation ever since March. I started covering Parex case in comparison and realized that there are too many common things in both acquisitions. I wanted to ask whether you will be willing to share your experience and insights into these corrupt dealings between post-soviet Baltic states and EBRD.
Best wishes,