I have written several articles for EU Bubble about the fraud campaign by the European Bank for Reconstruction and Development (EBRD) and Latvian government. They organized two fake (secretly reversible) privatizations of Kremlin-linked banks to protect embezzlers and money launderers from prosecution while sticking American, British, and European taxpayers with billions of euros of losses.
Clear evidence of this huge fraud has been openly available since a Nomura report for the Latvian government was leaked in 2010. This evidence was was reinforced later by (1) an investigation by the Dutch Parliament in 2014, (2) a letter from Eurostat in 2014, (3) a pronouncement by Latvia’s Vienotiba in 2014 admitting to their own guilt, and (4) a report from Eurostat in 2018 which confirmed that the fraud is still continuing now. Somehow, all of that information has been ignored by the mainstream media, auditors, ratings agencies, regulators, and prosecutors in many effected countries.
In 2021, a new institution was created. The European Public Prosecutor’s Office (EPPO) was intended to help expand rule-of-law in Europe. Specifically, there is a problem that corrupt prosecutors in member states often refuse to prosecute top government officials in their own countries. EPPO theoretically could help in such situations.
On 6 August 2021, I made a submission to EPPO explaining the EBRD-Latvia fraud. The submission was a series of questions online with fields to write responses and I can’t attach it here.
After making that submission, I sent registered letters to the EBRD Board of Governors who are, mostly, the finance ministers of the 69 countries that invested in the EBRD. These letters explained the same fraud which I complained to EPPO about, since I want as many people as possible to know what is happening. Here is my letter to Germany as an example:
On 7 October 2021, EPPO sent a reply that they do not have ‘competence’ to investigate this fraud. Keep in mind that this is one of the largest frauds in European history and undermines not only the economies of Europe but also the security of Europe. The fraud can be proven in a few minutes so it doesn’t require a large investigation. The response is written in Latvian language and says that Latvian officials must investigate and prosecute themselves:
So we see that the European Union has created yet one more useless institution, increasing the size of the bureaucracy without adding any useful service. The EBRD fraud racket will surely blow up eventually, and we can remember that EPPO had an opportunity to stop the fraud earlier however failed just like many institutions before.
John Christmas, whistleblower and co-author of ‘KGB Banker’ (Sunbury Press, 2021)