50 criminal trials started in bank liquidated in Riga ABLV

In connection with possible money laundering in the bank being liquidated ABLV, the Department for Combating Economic Crimes of the State Police of Latvia has initiated 50 criminal trials, writes the portal LSM. The police point out that in a number of these processes there have been violations not only by clients, but also by bank employees, as well as officials who worked in the group and provided support for money-laundering. One of the criminal cases was transferred by the Latvian Prosecutor's Office investigating organized crimes. In fact, at the moment it is estimated whether the ABLV Bank had organized money laundering in accordance with the statement of the FinCEN of the United States, after which the third bank in terms of assets at that time was included in the sanctions list of the United States. On the basis of the investigations, a decision will be taken on the return of funds to the owners or their confiscation in favor of the Latvian treasury. As already reported by the news agency, on February 5, 2020 member of the liquidation committee Andris Kovalchuk said that ABLV Bank has now prepared for the next, second, stage of payments and is ready to return to creditors a billion euros. Since then, no information has been received on the return of funds to clients.