Inguna Sudraba was a member of the Parex Bank Credit Committee from 2003 to 2004 and therefore was responsible for (1) making undisclosed-related-party loans, (2) making loans that exceeded the bank’s lending limit, and (3) acting as credit committee for secret subsidiary Extro Bank of Russia.

In 2008 and 2009, the Latvian people learned that half of the loan portfolio of Parex was bad, thus indicating severe problems with the Parex Credit Committee.

Was this the end of Sudraba’s career?  No!  Now in 2012, she is the Latvian State Controller (Auditor)!

Sudraba, working as State Controller, cannot find any corruption in Latvia.  For example, Parex arranged financing for the “Southern Bridge” in Latvia.  Latvian taxpayers will pay 1,000 million euros for a bridge that is worth 300 million euros.  Sudraba cannot figure out where the other 700 million euros went.

Latvian newspapers keep naming Sudraba as a wonderful person who should be President or Prime Minister in the future.  The articles never mention that she was on the Parex Credit Committee.

Southern Bridge