This email indicates that Parex Bank whistleblower John Christmas provided fraud information to Mizuho Corporate Bank in 2005 and the relationship manager at MCB reacted by getting angry.
MCB decided to lend much more money to Parex after learning that the bank’s financial statements were false. The total amount of syndicated lending increased to approximately 800 million euros and the London office of MCB organized most of it.
When the assets of Parex Bank disappeared in 2008, the Latvian government forced Latvian taxpayers to repay the syndicated loans instead of letting MCB suffer the loss. This decision was the direct cause of the Latvian Financial Crisis.
The Latvian media is completely silent about this issue.
