Latvia Central Bank governor accused of bribery in corruption trial

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Latvia Central Bank governor accused of bribery in corruption trial

On Monday, the 4th of November 2019, The Central Bank Governor of Latvia, Ilmars Rimsevics, credited to lead the former part of Soviet Union into the eurozone economy for better or worse, had attended in a court hearing in Jurmala, Latvia, after being accused of bribery, remarking the first-ever corruption trial of a European Central Bank Governor.

Besides, according to the court documents, the public prosecutor of Latvia had filed charges against Ilmars Rimsevics, 54, of accepting a paid holiday to Russia as part of a bribe alongside an offering of 500,000 euro. In point of fact, the corruption case against Latvia’s Central Bank Governor had stained the image of European Central Bank, where Rimsevics used to sit at the critical meetings of monetary council to decide the price of currency in the euro zone, while he also held a vote in supervising European lenders.

Meanwhile, following Monday’s (November 4th) trial, Latvia’s state prosecutor, Vikorika Jirgena was quoted saying that the key complaint against Rimsevics was to accept a bribe which was dated back to the early 2010s, while if convicted, Latvia’s Central Bank Governor could face a detention of up to five years.

Nonetheless, Rimsevics pleaded not guilty against the accusations the state prosecutor had brought upon against him.