Latvia jolted by US probe and arrest of central bank chief

US Treasury accuses Baltic nation’s third-largest bank of money laundering

ilmars_rimsevics.jpg
Latvian bank governor Ilmars Rimsevics denies taking a €100,000 bribe
(Image credit: Getty images)

Latvia’s financial system has been shaken by the arrest of its central bank chief over bribery allegations amid separate claims that one of the country’s biggest banks may have helped breach North Korean sanctions.

Bloomberg describes the developments as a deepening “crisis” engulfing the Baltic nation’s banking system. The Financial Times says the “dramatic” developments are the latest in a series of crises in Latvia dating back more than a decade.

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