Evidence of Fraud at the European Bank for Reconstruction and Development

Thank you for inviting me to make a post for the Association of European Journalists. My name is John Christmas and I used to be a banker, employed by banks in the United States and later in Latvia. My experience blowing the whistle on fraud at the bank in Latvia caused me to learn of an even larger problem: fraud at the EBRD. The EBRD has ‘sold its name’ to a banking group in Latvia linked to organized crime and there are hints that the EBRD has been doing this for years in other countries also including Lithuania, Armenia, Cyprus, and more. I have been telling regulators and journalists in many countries about this for years however only a few journalists have been brave enough to publish the evidence. Hopefully 2021 will be my breakthrough year because I submitted a complaint to the new European Public Prosecutors Office and commenced a mailing campaign to inform all of the EBRD Board of Governors. One of those letters is below. I encourage more journalists to get interested in this problem which must be one of the largest fraud rackets in European history. Thank you.

EBRD letter