ECB freezes Latvian bank after laundering allegation

ECB's Rimsevics Detained by Latvian Anti-Graft Bureau

"I have taken the decision not to resign", Ilmars Rimsevics, the Bank of Latvia's governor and representative to the European Central Bank, told reporters at a press conference in Riga on Tuesday.

Latvia's president, prime minister and finance minister have all called on Rimsevics to step down from his post, at least while an investigation is underway.

Anti-corruption officials in Latvia have detained the boss of the nation's central bank, an influential member of the European Central Bank's interest rate-setting governing council.

The Latvian government has repeatedly urged Rimsevics to step aside after the anti-corruption agency detained him over the weekend on suspicion of securing bribes.

Kucinskis also said he and other officials had no reason to interfere with the anti-corruption agency's work.

Penn State upsets No. 8 Buckeyes for a season sweep
The four-time Big Ten Player of the Week is tied for the conference lead in scoring (19.6) and is third in rebounding (8.8). Penn State (18-9, 8-6) downed Iowa by 24 points earlier this month and trounced IL last weekend on the road, 74-52.

The governor, who's led the Latvian central bank since 2001, may be protected by the institution's independence. It loaned ABLV €97.5 million on Monday. An Associated Press investigation found that a Latvian bank is accusing Rimsevics of seeking bribes for years, abusing his power and being connected to individuals involved in money laundering from Russian Federation. "This means that the latter's financial risks will not be transfered over to Estonia", the Financial Supervision Authority said.

Latvia's third-largest lender was left facing rapidly mounting problems Monday, after the U.S. Treasury accused it of money laundering and defying Western sanctions. Deputy Governor Zoja Razmusa will fulfill Rimsevics's role while he's not at the bank, spokesman Janis Silakalns said. AB.LV bank is now drafting such a plan, and promises that AB.LV bank's representatives will submit it to the Financial and Capital Market Commission (FCMC) by the end of the day. The bank was then wound up.

"Estonian banks are not substantially connected to ABLV".

According to reports by the US State and Treasury departments, ABLV's illegal activities included funnelling billions of dollars of proceeds from corrupt public schemes in Azerbaijan, Russia, and Ukraine and transferring the funds through accounts belonging to shell companies.

"ABLV has facilitated transactions for corrupt politically exposed persons and has funneled billions of dollars in public corruption and asset stripping proceeds through shell company accounts", Treasury official Sigal Mandelker said in a statement on February 13.

Related News:



Most liked

Netanyahu Confidants Named as Suspects in New Corruption Probe
Gerstel was shocked by the attempted bribe and told then-Supreme Court Justice Esther Hayut about it. Netanyahu also released a response statement denying the existence of the deal.

Venezuela's national cryptocurrency is officially up for sale
Even though Venezuela is economically feeble, these ambitions are something Washington must pay attention to, he said. If successful, the transaction could hypothetically raise $2 billion or more , according to some estimates.

Clarence Thomas, in Dissent, Asserts Gun Rights Aren't 'Favored' at High Court
Silvester , however, is also part of a larger crusade by Thomas to convince his colleagues to hear more gun cases. That review was nothing more than a ruling on the basis of that court's "own common sense", he said.

Cherica Adams, Rae Carruth's Girlfriend: 5 Fast Facts
And I just want her to know that truly I am sorry for everything, . "If I could change anything, I'd change the whole situation. Carruth sent a 15 page letter addressed to Adams' mother to our news partner, WBTV .

Chelsea star admits 'dream' of playing for Real or Barca
He said: "On one hand you know this team is one of the best in the world - maybe they are favourites to win this competition". Regarding Bakayoko, many Blues supporters will be happy they don't have to watch the summer transfer window flop; probably.

Trump and Romney friends again - on Twitter
Further, reports late last year indicated that Trump was pressing the 83-year-old Hatch to seek an eighth term to shut out Romney. Trump wrote Monday evening that Romney "will make a great Senator and worthy successor" to the retiring Orrin Hatch .

7th-grader shoots himself at OH school
Mom said she immediately called the police and found out that the lockdown at the school was very real. The woman, Lisa Oswald, told WJW she's scared and sad for her son, who is in the sixth grade.

Burnout Paradise Remastered is coming to PS4 and Xbox One in March
A remastered version of Burnout Paradise has been floating about the rumor mill for the last few weeks. For more on Burnout Paradise Remastered , check out the eight 4K screenshots above.

Doug Martin released by Tampa Bay Buccaneers
Martin served three games of his suspension at the start of the 2017 season and didn't have a great campaign upon his return. He ran for 1,454 yards as a rookie, exploding on the scene out of Boise State and looking like a future franchise back.

Ethiopia declares state of emergency after PM resigns
It is unclear who will take over from Hailemariam or when that decision will be made. The ruling EPRDF coalition controls all the seats in parliament.

Israel strikes multiple targets in Gaza; Rocket hits Israeli home
Police said the third had rocket hit a structure in a community near Gaza, causing damage but no casualties. Israeli Prime Minister Benjamin Netanyahu called the incident "severe" and vowed to "respond accordingly".

Missing 4-year-old found safe in another state after home invasion
Charleston Police spokesman Charles Francis said Heidi was last seen wearing pink trousers and a blue shirt. At this point, Oliver asked Evans out of the auto then turned the vehicle off and put the keys on the dash.

Shaq Fu: A Legend Reborn Will Arrive In Spring 2018
Even if you put on the rosiest tinted glasses ever, Shaq Fu is still a steaming turd. The sequel you didn't know you wanted, but are getting anyway, is nearly here.

Some Apple iPhones crash on Indian language script bug
The only way to escape this cycle is to get someone else to message you and delete the thread containing the malicious message. Apple expects to finalize iOS 11 .3 this spring , at which point it will be pushed out to iPhones and iPads in general.

Community advocates react to proposed change to food stamp program
Lawrence County's commissioner of social services, said he was concerned the changes would not create the savings that were hoped. The government can get the food at wholesale prices, he said, and "it also makes sure they're getting nutritious food".