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Finance minister cited U.S. Treasury on money laundering, bribery

Finance minister cited U.S. Treasury on money laundering, bribery

Finance minister cited U.S. Treasury on money laundering, bribery

Associated Press
Published 7:14 p.m. ET Feb. 18, 2018 | Updated 8:52 p.m. ET Feb. 18, 2018

A ubiquitous view of a Latvia executive bank building in Riga, Latvia, Feb. 18, 2018. Latvian executive bank Governor Ilmars Rimsevics was incarcerated by a Corruption Prevention and Combating Bureau in a ongoing review into allegations of corruption.(Photo: VALDA KALNINA, EPA-EFE)

LONDON – Latvia’s tip banking official, a pivotal member of a European Central Bank, was incarcerated Sunday after being questioned for hours by anti-corruption authorities amid accusations of temptation and income laundering in a European nation’s financial system.

Latvian state TV showed Ilmars Rimsevics nearing at a offices of a country’s anti-corruption group Saturday night and withdrawal early Sunday, following what a broadcaster pronounced was a raid on his bureau and property.

Prime Minister Maris Kucinskis reliable that Rimsevics, 52, was being detained, though didn’t yield details. Neither Rimsevics nor his counsel could be immediately reached for comment.

Rimsevics’ detain is quite sensitive since he sits on a top policymaking legislature of a ECB, Europe’s many powerful financial institution, and is arcane to a state secrets of Latvia as good as those of NATO and a European Union.


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During a news discussion Sunday, Finance Minister Dana Reizniece-Ozola pronounced Rimsevics “should renounce from his post at slightest for a time of a investigation.”

The financial minister remarkable that a Latvian council cannot force Rimsevics out unless there is justification of a crime, as a central bank is eccentric by law.

Reizniece-Ozola did not mention why Rimsevics was detained. However, she cited a U.S. Treasury news Tuesday that singled out a Latvian bank, ABLV, as a breakwater for income laundering that allegedly bribed internal officials. She done no tie between a bank and Rimsevics.

The anti-corruption agency, a Bank of Latvia and a European Central Bank all declined to comment.

Any connectors to income laundering, experts said, will lift concerns of a risk of extort from Russia, where a secret services and orderly crime mostly control a flow of bootleg cross-border income transfers.

Latvia, one of a three Baltic nations that became eccentric after a 1991 fall of a Soviet Union, has a well-documented story of behaving as a income laundering flue for Russian capital.

Its possess banking complement has been tormented by crime and income laundering scandals in new years. Among a most high-profile was a $230 million in Russian taxpayers’ income that was siphoned off by Russian officials, mostly through Latvian banks, according to U.S. and European authorities.

Whistle-blower Sergei Magnitsky was detained in Russia in 2008 and allegedly beaten and denied medical care, heading to his death. The U.S. and EU authorised Russian people over a case in Dec 2010.

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