European authorities will wind down Latvia’s ABLV Bank AS

  • 2018-02-28
  • Linas Jegelevicius
European authorities will close ABLV Bank AS, the Latvian lender facing U.S. accusations of money laundering tied to North Korea. The European Central Bank (ECB) spearheaded the aggressive step to rein in the turmoil in Latvia, which third-largest bank was failing or likely to fail. The ECB froze all ABLV payments after the allegations triggered an exodus of deposits.  Previously, Bank of Latvia Governor Ilmars Rimsevics was detained and then released amid bribery allegations in connection to the ABLV Bank AS accusations.  Despite ABLV saying ...
The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please authorize yourself.

In case you don't have a subscription yet - please visit our SUBSCRIPTION section