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Rimsevics case was a major reputational blow for central bank and Latvia – Kazaks

The indictment of former President of the Bank of Latvia Ilmars Rimsevics for bribery crimes in 2018 was a serious reputational blow to the Bank of Latvia and the country as a whole, acknowledged Martins Kazaks, President of the Bank of Latvia, on Latvian Television last night.

Commenting on yesterday’s Riga District Court verdict finding Rimsevics guilty of bribery crimes and sentencing him to prison and confiscation of his property, Kazaks said that the sooner this process is over, the better.

However, Kazaks stressed that the verdict and the criminal case are not related to the bank’s activities, but concern one particular person.

As reported, the Riga District Court in Jurmala on Wednesday found former President of the Bank of Latvia Ilmars Rimsevics guilty in a bribery case and sentenced him to a real prison term.

Rimsevics was sentenced to six years in prison and probation supervision for one year. The court also ordered confiscation of Rimsevics’ property, including several real estate properties in Garkalne municipality, an apartment in Jurmala and a property in Ventspils municipality.

Businessman Maris Martinsons also was found guilty and sentenced to a jail term of five years. He will also have to pay EUR 150,000, while his company MM Investicijas will have to pay EUR 3.1 million.

The verdict can still be appealed to the Riga Regional Court. Rimsevics told the press that he will appeal the decision, but he did not comment on it any further. Martinsons’ lawyer Didzis Vilemsons also said that the court decision will be appealed.

Earlier, Rimsevics and the other defendant in the case, businessman Maris Martinsons, said they did not admit guilt and that their guilt had not been proven during the trial.

Rimsevics and Martinsons were detained by the Corruption Prevention Bureau (KNAB) in February 2018. The Prosecutor General’s Office charged Rimsevics with bribery and Martinsons with facilitation of bribery.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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