Latvia's central bank chief is in court

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Ilmars Rimsevics

The boss of the Latvian central bank threatens up to eleven years imprisonment.

(Photo: Bloomberg)

Stockholm It is likely to be troubled days for Ilmars Rimsevics. Latvia's central bank chief has since Monday in a court in the spa Jurmala at the gates of the capital Riga responsible for corruption allegations. He is accused of accepting bribes of up to 250,000 euros. He should also have an expensive holiday trip financed.

Rimsevics has denied the allegations and sees himself as a victim of a conspiracy by Latvian business bankers. As the head of the central bank, the 54-year-old watches over the country's monetary institutions. Some of them are under Russian influence and have repeatedly been in the headlines about money laundering charges.

It was only in early 2018 that the central bank chief of the Baltic country, which had been in office since 2001, was temporarily arrested, but released on bail only one day later.

The current lawsuit against Rimsevics and a Latvian businessman is about whether they helped a commercial bank to answer questions from Latvian banking regulators.

In addition, the court will judge whether Rimsevics has asserted its influence in favor of the bank with the regulator. Rimsevics has also been a member of the ECB's Governing Council since the introduction of the euro in Latvia in 2014. If convicted, he faces up to eleven years in prison.

More: The Latvian central bank chief is under suspicion of corruption – but does not think about a resignation.

(t) Tags (t) Names (t) Latvia (t) Corruption Allegations (t) Bribery (t) Corruption (t) Crime (t) Litigation (t) EMU (t) Federal Reserve (t) ECB (t) Ilmars Rimsevics

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