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Former ECB Board Member Ilmars Rimsevics Sentenced to Six Years in Prison for Bribery in Latvia

Fraud, Bribery & CorruptionFormer ECB Board Member Ilmars Rimsevics Sentenced to Six Years in Prison for Bribery in Latvia

A Latvian court has sentenced former central bank chief and European Central Bank board member Ilmars Rimsevics to six years in prison for bribery. The Jurmala city court also ordered the confiscation of criminally-obtained real estate properties owned by Rimsevics. Businessman and political operator Maris Martinsons received a five-year prison sentence for aiding and abetting the bribery. Both individuals plan to appeal the verdict. Rimsevics, who had led Latvia’s central bank since 2001, was arrested in 2018 for allegedly soliciting a bribe to keep the now-closed Trasta Komercbanka afloat. Rimsevics joined the European Central Bank board when Latvia entered the eurozone in 2014, holding the position until his term as central bank chief ended in 2019.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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