‘A nightmare,’ says Norvik banker

Latvia’s top banking official explained the “rules of the game” for successful banking in the small European country.

His sidekick sat the owner of Norvik bank down, scribbling the sum on a piece of paper: 100,000 euros ($125,000) a month.

An international complaint filed by Latvian bank Norvik alleges that a “senior Latvian official” repeatedly sought “to extort monetary bribes” and retaliated against the bank when its owners refused to pay up. The 39-page claim, filed before a World Bank arbitration body, did not name the Latvian official.

That person is Ilmars Rimsevics, Norvik bank officials told The Associated Press.

Rimsevics, the country’s top banking official and a key member of the European Central Bank, was detained Saturday amid swirling accusations of bribery and money laundering schemes in Latvia that reach back to Russia.

He was released on bail Mon- day, and said he “rejects everything” about the allegations, Latvian state TV reported. The country’s anti-corruption agency said it suspects Rimsevics of “seeking a large-scale bribe” and has started a criminal investigation.

The high-stakes drama unfolded Saturday, when Rimsevics was detained upon arriving for questioning at the office of Latvia’s anti-corruption agency, and was interviewed for eight hours into the night, his lawyer told state TV. His office and a property were raided, the channel said.

The looming criminal charges against the man who has overseen the country’s banking sector since 1992, in the wake of the Soviet collapse, has plunged the small Baltic nation into turmoil.

Rimsevics’ detention is particularly sensitive as he sits on the top policy making council of the ECB, Europe’s most powerful financial institution, and is privy to the state secrets of Latvia, NATO and the European Union. /