Stop the Untouchables. Justice for Sergei Magnitsky.

Latvian prosecutors open probe into bank links to Magnitsky case

Business News Europe

Latvian prosecutors are set to investigate claims implicating several of the country’s banks in the alleged Russian tax fraud scheme that blew up into an international incident when it led to the 2009 death of lawyer Sergei Magnitsky in detention in Moscow, according to investigative journalism NGO Re:Baltica. The cast of characters implicated represents a roll call of Latvians that have regularly cropped up in relation to questionable Russian and Ukrainian state deals.

The Latvian prosecutor’s office announced late on October 2 that it has reversed an earlier decision by the state police not to investigate whether Latvian banks helped to launder at least $63m out of Russia in 2007. The funds are claimed to stem from a huge tax fraud operation alleged by Hermitage Capital against members of Russia’s tax police.

Alexander Cernisovs, chief prosecutor responsible for organized crime, told journalists that having studied the evidence from Latvian banks, he has determined that the state police’s decision not to start a criminal investigation was contrary to law and unjustified, reports Re:Baltica. He said he has sent the evidence of Latvian banks’ involvement back to the police for re-investigation.