Central bank chief suspended in Latvia corruption scandal

That, roughly, is what is currently happening in Latvia. Ilmars Rimsevics, the governor of the Baltic state’s central bank, was arrested at the weekend on suspicion of demanding and receiving bribes worth more than €100,000.

Mr Rimsevics, who has held the post since 2001 and who also sits on the governing council of the European Central Bank, denies the accusations.

Latvia’s anti-corruption agency announced on Monday it had launched criminal proceedings against him.

Meanwhile, ABLV, Latvia’s third largest bank, stands accused by the US Treasury of widespread money-laundering.

The European Central Bank (ECB), which supervises Latvia’s banking system, has suspended all payments by the bank in the meantime.

Among those on whose behalf ABLV is said to have managed transactions include North Korea’s Foreign Trade Bank, a body the UN says helps finance the pariah state’s nuclear missile programmes, while the bank is also alleged to have handled money from Ukraine, Russia and Azerbaijan obtained

... read more at: https://news.sky.com/story/central-bank-chief-suspended-in-latvia-corruption-scandal-11259247

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