The bank denied the accusations. However, the report put a lot of pressure on the bank and it collapsed the next week.
Latvian officials said that same week that Ilmars Rimsevics, the central bank chief, was suspected of taking bribes. Security services are also investigating Rimsevics after media reported that he asked a Latvian bank to do money laundering from Russia.
Questions from the American People:
- Why is so much money flowing from Latvia in the first place? Who is sending money via Latvia? Who was funding North Korea? Does the investigation point to Russia as the primary funder?
- What steps can the U.S., E.U., and U.N. take to ensure that worldwide banks respect official sanctions?
- How did the collapse of the ABLV affect the Latvian economy?
