Cypriot Banking Crisis (2013)

'A nightmare': Banker tells tale of Latvian corruption

Latvia's top banking official explained the "rules of the game" for successful banking in the small European country. His sidekick sat the owner of Norvik bank down, scribbling the sum on a piece of paper: 100,000 euros ($125,000) a month.

An international complaint filed by Latvian bank Norvik alleges that a "Senior Latvian Official" repeatedly sought "to extort monetary bribes" and retaliated against the bank when its owners refused to pay up. The 39-page claim, filed before a World Bank arbitration body, did not name the Latvian official.

That person is Ilmars Rimsevics, Norvik bank officials told The Associated Press.