Money laundering charge: Latvian bank acquitted

Latvia’s anti-corruption agency Knab said this week it had found no evidence of money laundering by ABLV Bank, the country’s third-largest credit institution in -and this is two years after charges were brought by US financial authorities. At the time, ABLV denied the allegations, but the Latvian Finance and Capital Markets Commission nevertheless suspended the bank’s operations at the request of the ECB.

The damage is still irreparable

The statements of the US department were deliberately false, — writes Neatkariga:

“ABLV Bank was destroyed, the bankers’ reputation was discredited. has received a clear signal: our country’s commercial banks are undesirable in the global financial market. … however, the lack of evidence does not mean that ABLV will now be reborn like a phoenix from the ashes — and victoriously return to the financial market. The only thing that the employees and owners of the bank can be happy about is the end of the criminal process, and therefore the removal of all restrictions associated with it.”

They signed their own insolvency

The publication Diena, in turn, took up arms against the Latvian anti-corruption agency:

“The decision of the Latvian anti-corruption agency Knab puts not only the US tax service Fincen, but also itself in a stupid position in the eyes of Americans. For two years, we have not been able to find evidence of what was a fait accompli for the Americans. Instead, we argued that the American’s statements were false, but again, we were unable to produce any evidence on our part. It is as if nothing at all has been done in the last two years, while Latvia has been suffering from the serious consequences of Fincen’s statements. … The main thing that has become clear in the light of the Knab decision is the inability and unwillingness to investigate corruption in the highest echelons of power.”

Leave a Reply

Your email address will not be published. Required fields are marked *