Latvian bank ABLV sues the European Central Bank in the Court of Justice of the European Union, saying the ECB triggered ABLV's collapse. The bank failed following allegations by the United States that ABLV was laundering money on behalf of North Korea.
Latvian bank ABLV said on Monday it is taking the European Central Bank to court for triggering its demise after it faced allegations of money laundering.
- Reuters (Image)
- Latvia will ask the European Central Bank not to renew the mandate of ECB Governing Council member Ilmars Rimsevics, the head of the central Bank of Latvia since 2001, amid an ECB payment moratorium and an U.S. graft investigation into Latvia's third-largest lender, ABLV. On 19 January, Rimsevics was released on bail.
- United States investigators associated with INTERPOL track 200 bank accounts associated with alleged North Korean drug smuggling, counterfeiting, money laundering and arms trafficking.
- European Commissioner for Trade Cecilia Malmstrom proposes to reduce all European Union import tariffs, also on automobiles, to zero if the United States reciprocates. President of the United States Donald Trump threatens to quit the World Trade Organization.
- The United States imposes sanctions on a Russian bank that facilitated a transaction for a North Korean on an American blacklist.
- A United States court case gains new evidence and a guilty plea in relation to investigations of corruption and money laundering in Venezuela, adding a group who are suspected to be relatives of Venezuelan President Nicolas Maduro to the list of suspected accomplices.