A Farm of Directors
How Average Latvians Became Paper Directors in Transactions Worth Millions.
Latvia to investigate its banks’ role in the Magnitsky case
The prosecutor’s office has reversed the decision of the state police not to investigate whether Latvian banks helped to launder at least 63 million dollars from Russia in 2007 as part of a huge tax fraud.
At least 63 million dollars laundered through Latvian banks in the Magnitsky case
Sergei Magnitsky was a lawyer for Hermitage Capital (an American managed fund investing in Russia) who tried to investigate the theft of money from the fund. His colleagues at Hermitage Capital believe it possible that part of the 63 million…
Parliamentary committee’s finds failures of regulating Krajbanka and banker Antonov
The Latvian parliamentary committee’s findings on failures of regulating Krajbanka follow an earlier series of stories by the investigative journalism centre Re:Baltica on Antonov and the breakdown of regulation that preceded the collapse of Krajbanka and Snoras.
Following the Magnitsky Money
As Russian tax lawyer Sergei Magnitsky slowly died in a Russian prison from abuse and neglect, US$230 million (5.4 billion Russian Rubles) in taxes stolen from his client disappeared into a maze of phantom companies, crooked banks and offshore accounts.…
Latvian bank’s role in controversial Ukraine tenders under scrutiny
Questions are growing over the role played by Latvia’s Trasta Komercbanka in controversial Ukrainian state tenders in 2011 allegedly involving the embezzlement of hundreds of millions of dollars. According to bne enquiries and the tender documents viewed by bne, companies…
Latvian bank’s role in controversial Ukraine tenders under scrutiny
Questions are growing over the role played by Latvia’s Trasta Komercbanka in controversial Ukrainian state tenders in 2011 allegedly involving the embezzlement of hundreds of millions of dollars. According to bne enquiries and the tender documents viewed by bne, companies…
Snoras, Krajbanka Shine Light Once More On Dozing Regulators
The massive fraud at the collapsed Snoras bank and Latvijas Krajbanka will cost the taxpayers in Lithuania and Latvia hundreds of millions of euros before the cleanup is complete. Bankruptcy administrators have only just begun to sift through the debris.…
Antonovs Business Scheme
These are the companies controlled by Antonov before the collapse of the Baltic banks in November 2011. Some of them are currently in administration, or already sold.