bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 24.03.2017 | Name days: Kazimirs, Izidors

De Facto: Estonian fast loan company may have been laundering money

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAuthorities suspect that Estonian MiniCredit fast loan company was being used as a money laundering machine over the course of many years. Millions of euros went through it, as reported by De Facto programme of LTV.

The programme explains that after the coming into force of new regulations regarding loans, Estonian company MiniCredit ceased its activities, as it failed to acquire a licence to continue issuing loans.

One of the former shareholders requested a repayment of a loan worth EUR 364,000. MiniCredit could not afford that once the insolvency process had commenced in Estonia, De Facto reports.

The company’s documents remain classified. «They did not cooperate. They probably have something to hide. Otherwise they would have submitted all related documents. We don’t have MiniCredit’s balance. We only have the annual account for 2014. That’s all we have,» – notes MiniCredit insolvency administrator office’s representative Kerli Kazika.

De Facto states that board and council members of MiniCredit offices in Estonia and Latvia were often the same. «The most well-known of them in Latvia is banker Rolands Petersons. A few years ago Finance and Capital Market Commission applied a fine to him and other PrivatBank board members for creating risks for the bank by performing money laundering activities. Ex-banker Valery Kargin’s son Maksim was also among them,» – De Facto reports.

The programme notes that MiniCredit’s current account was opened in Citadele Bank (previously Parex Bank). Its co-owner was Latvian MiniCredit’s former shareholder Maksim Kargin’s father.

«Citadele Bank is not among the most popular credit institutions in Estonia. But it is from there that three million euros were withdrawn over the course of three years. In 2011, the bank’s account became EUR 800,000 lighter. More than EUR 5 million was withdrawn one year later. EUR 1 million was withdrawn in 2013. Cash was withdrawn in later years as well, but in smaller amounts. It is unknown if Citadele Bank had informed authorities in time. The law prohibits reporting such information to the media,» – De Facto reports.

The programme allows that it may be a coincidence. The bank notes that its office in Estonia had been providing authorities with the necessary information over the course from 2011 to 2014.

Information available to De Facto shows that cash from Citadele Bank was withdrawn mostly by two individuals: Sergejs Dubins and Vitalijs Jarosevics. Jarosevics was once the head of both Estonian and Latvian offices of MiniCredit.

«MiniCredit had annual revenue around hundreds of thousands euros, but cash was withdrawn in the millions. That doesn’t make sense. In addition, people associated with MiniCredit have controversial reputation. I believe it was an attempt to launder money – most of it MiniCredit’s – and withdraw all of it,» – Reiljana said.

De Facto is aware that one of the people who transferred money to MiniCredit is Dmitrijs Kovals. He was once part of the management of Saules Bank. Lately he has been working as a financial consultant. Nevertheless, his name was mentioned by the media in association with international money laundering cases. Unfortunately, there was no way for De Facto to receive any commentaries from him, as he died a couple of weeks ago, the programme reports.

Opposite to his promise, MiniCredit’s former manager Vitalijs Jarosevics never responded to De Facto’s questions.

Experts interviewed by the programme allow that Jarosevics may have been a representative of a much more influential person in the aforementioned company – Estonia’s controversial businessman Kristians Kesners. Officially, he was associated with Estonian and Latvian companies from their very foundation. Kesners’ influence did not fade over time, however. De Facto is aware that Kesners had one of MiniCredit’s owned payment cards for a long time.

MiniCredit’s owned payment card was used in Estonia to pay for bills in Excellent striptease club. The card was also used to pay for activities in many of Tallinn’s night clubs. In Riga, the card was used in XXL gay club, infamous Ampir striptease club and to pay for trips to some of the world’s sunniest cities, De Facto reports.

The programme has found out that a couple of years ago Kesners declared personal insolvency. However, he continues to drive expensive cars, including Maybac. Its lease is paid be DirectCom, which is a company that is not associated with Kesners.

DirectCom is a company founded by former employees of MiniCredit. Using this company, they tried to continue business by recovering debts from MiniCredit clients.

Kesners and his business partners do not answer phone calls or e-mails.

De Facto is also aware that a criminal process has been launched in relation to the facts uncovered about MiniCredit’s insolvency process. «The prosecutor’s office can confirm that a criminal process has been launched in relation to MiniCredit. The prosecutor is unable to provide more detailed information on this topic, as it would impact the investigation,» – De Facto was told by Estonian prosecutor’s press-secretary Karela Kallasa.

Ref: 224.109.109.1486


Leave a reply

Kucinskis hopes to find a new director for State Chancellery within two weeks

Latvian Prime Minister Maris Kucinskis hopes to find a new manager for the State Chancellery within the next two weeks.

InnoEnergy business opens an office in Latvia

International business accelerator company InnoEnergy has opened an office in Latvia. This objective of this company is preparing new and innovative technologies developers for attraction of investments as part of InnoEnergy accelerator.

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

CC permits Lithuanian company to acquire decisive influence over Latvian businesses

Latvia’s Competition Council has permitted two mutually associated deals to be performed by W.P.Carey and Kesko, allowing the two concerns to acquire decisive influence over Lithuanian Baltic Retail Properties and three companies registered in Latvia – K Prof, Polo LS and Daugavkrasts M.

Estonian military transport firm co-operates with leading Norwegian and British companies

Estonian military transport manufacturer Milrem has made a joint product with Norwegian weapon-maker Kongsberg and British remote system producer Qinetiq North America.

Welfare Ministry opposes diverting part of social budget to healthcare

Experts view Finance Ministry’s proposal to divert certain parts of the social budget to pay for certain healthcare services. Welfare Ministry is especially cautious about this proposal.

Saeima agrees to publish names of disciplinary punished judges

Publication of information about disciplinary penalties applied to judges, their names and surnames will no longer be prohibited, as stated by amendments to the Judicial Disciplinary Liability Law supported by the Saeima in the first reading on Thursday, 23 March.

Experts: internet users open up 30% of fraudulent e-mail letters

Cyber criminals are becoming more and more cunning and their fraudulent e-mails – harder and harder to differentiate from real ones. Internet users open up to 30% of fraudulent e-mail letters, explains eScan antivirus developers.

Minister: Latvia supports International Coalition’s fight against Daesh

«The fight of the International Coalition against Daesh has become a very effective instrument to help reduce Daesh military, financial and recruitment capabilities,» said Latvian Foreign Affairs Minister Edgars Rinkevics.

New pulp factory planned in Estonia

Estonian entrepreneurs have envisaged building a high-tech pulp-making plant near the city of Tartu and have submitted the plan for confirmation from Estonian national special planning authorities.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Russian singer barred from going to Eurovision in Kyiv

Ukrainian authorities have banned Russian Eurovision representative from entering Ukraine, where the pop song contest Eurovision is to be held in May.

Travel passports planned to be introduced in Latvia

Deputies have submitted amendments to the Personal Identification Documents Law, suggesting the adoption of travel passports to avoid situations when people are denied the right to travel freely or participate in elections.

Tragic attack in London

In a tragic attack on civilians and police in London, five people have been killed and no less than 40 injured.

Farmers urge voting in favour of preserving land in the hands of local residents

A letter with a request to support farmers, countryside residents and amendments to the Law on Land Privatisation in Rural Areas has been sent to members of the Saeima.

Officials support Finance Ministry’s proposals for medium-term tax strategy

At the 22 March meeting of the National Economy Council, members of the parliament decided to conceptually support Finance Ministry’s proposals for medium-term tax strategy.

Ameriks received nearly 200,000 euros from fast loan companies in interest pay

Vice-Mayor of Riga Andris Ameriks received income of nearly 200,000 euros in interest pay from fast loan companies 4finance and Mogo last year, according to the declaration for 2016 submitted to the State Revenue Service.

Estonia to reduce availability of plastic bags in shops

Having passed amendments to the Estonian «Packaging Law», the Riigikogu has adopted a plan to reduce the use of plastic bags in the Baltic country over the coming years.

Latvian businesses in Japan to be provided with stable tax payment regime

Latvia businesses working in Japan will be provided with a stable tax payment regime that will not be influenced by amendments to Japan’s tax regulations, as stated in Saeima’s report.

Multiple parties to gather in a single candidate list to compete with Lembergs

Latvian Association of Regions, National Alliance, For Latvia’s Development and Unity will start at municipal elections in Ventspils under a single candidate list, said the leader of this unified list Girts Valdis Kristovskis in an interview to Latvijas Avīze.

Reirs: ministry’s offered tax reform will change nothing for most pensioners

Finance Ministry’s offered tax reform will add only slight changes. Most pensioners will not feel any changes from this reform – neither good, nor bad, said Welfare Minister Janis Reirs in an interview to Rīta panorama.

Canadian ambassador: Latvia and Canada are closer than ever before thanks to CETA

«All Latvian exporting companies – those that already export goods to Canada and those that consider doing that – will benefit from the Comprehensive Economic and Trade Agreement,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalnina-Lukasevica.

Expert: cargo transports through Iran offer a major step for international logistics market

Over the course of nine months, since Latvian logistics company Pro Logistic Services opened an office in Iran, the volume of cargoes and the number of serviced clients has grown by 15%.

Eastern Hospital’s Gynaecology Clinic to be provided with 500,000 euros to reduce queues

Riga Eastern Clinical University Hospital’s Gynaecology Clinic will be provided with funding of EUR 513,622 from the state budget to help reduce queues.