Latvian authorities, earlier this year, barred Ilmars Rimsevics, its central banker, from his duties

© blogfactory

What is this deed telling us?

Latvia was wrong to have suspended its central bank chief from his job over bribery allegations, an EU jurist has said, as Europe struggles to clamp down on financial crime.

Latvian authorities, earlier this year, barred Ilmars Rimsevics, its central banker, from his duties, including from attending meetings of the European Central Bank’s (ECB) governing council.

They did it on charges that he took €250,000 in bribes five years ago and accepted a free fishing trip to Russia in return for helping a private bank with its regulatory problems.

The Latvian lender, Trasta Kommercbanka, was implicated in an €18bn money laundering scheme and shut down in 2016.

A lawyer working on its insolvency, Martins Bunkus, was also shot dead in Riga in May this year.

Rimsevics denies the accusation and is fighting the case in Latvian courts.

The ECB has also mounted a legal…

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