Banker Accused in Russia Invested Hundreds of Thousands of Euros in Government Bonds in Latvia
A former vice president of the Russian bank Klientskiy, who faces accusations in Russia, moved to Riga in 2014. In Latvia he invested hundreds of thousands of euros in government bonds through ABLV Bank and spent money in exclusive hotels.
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A former vice president of the Russian bank Klientskiy, who is accused of wrongdoing in his home country, arrived in Riga in 2014 and found refuge there. His case raises the question of whether the money he brought into Latvia was a legitimate investment or laundered funds.
According to material published by the Latvian news site Apollo.lv, the banker lived in Latvia on a lavish scale. Through ABLV Bank he put hundreds of thousands of euros into government bonds. He also spent money in exclusive hotels.
The article appears under the heading "Court ruling" and asks whether the man is a money launderer or an investor. The short excerpt available does not say what charges he faces in Russia, what a court has decided or what happens next in the case, so those details are not given here.
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