Rietumu - for all victims of fraudulent account closure and theft of funds

Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more
CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
And i’m going ahead by ombudsman... you think that ombudsman can help us?

I have no idea why they blocked your account firstly as that is important to know. Is it general money laundering related, sanction violation related, terrorism financing related or use of a VPN etc?

1 month is nothing in reality when bureaucracy is involved. Ask Iran who have had assets frozen for decades in certain countries not including nearly £1bn in UK frozen since 2010 they claim is wrongfully frozen.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Yes @Martin Everson, I read.

So you are asking if a laundromat lawless Latvian bank that got busted is reliable.....really?

Just google their name and money laundering. Your better of throwing your money in an open wood fire then banking there.
 

ontherun

Active Member
So you are asking if a laundromat lawless Latvian bank that got busted is reliable.....really?

Just google their name and money laundering. Your better of throwing your money in an open wood fire then banking there.
Maybe he is looking for precisely these services :) :) ...
 

JohnSeed

Corporate Services
BANNED MEMBER
It's a matter of time before the next screaming pig will arrive on this forum and call them a fraud :D
 

Educate

Entrepreneur
It's a matter of time before the next screaming pig will arrive on this forum and call them a fraud :D
WTF, they literally rised their "account operating fees" to thousands so they can scam customers.

The bank is run by a greedy jewish Russian who will look at any opportunity to benefit from clients. If he can get away with it, he will steal from you. It is completely messed up.
Only an idiot would open account with Rietumu.

ABLV was actually a very decent bank and great for offshores, but USA forced to close them down due to trading with Russians or NK or something
 

ontherun

Active Member
fraud, objectively speaking, is not wrong. it just depends on how you look at it. finding ways around sanctions can only be a good thing
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Interesting article on Latvian banking corruption. No sane foreigner other than criminals should ever think for a second to bank in such a banana republic mafia state.


P.S They probably even bribed officials to join the EU in the first place.
 

Processario

New member
In any case, if you are thinking about opening an account in one of the banks in Latvia, this is definitely a bad idea. Just one suspicious or not suspiciuos payment (in their opinion) is enough and your account will be frozen. :confused: 100% guarantee
 

Spinat

Corporate Services
Elite Member
I was wondering if this bank is still active. To me it looks like they are and operating several different operations even today. The thread around at OffshoreCorpTalk has been growing until January this year (2020) so comments stoped.

Does someone know what is up and down, are they a scam or fraud?
 

Sols

Staff member
Mentor Group Gold
Rietumu is still active. They are under continuous scrutiny by Latvian and EU regulators, so they can be a bit difficult to work with.

In 2019, Rietumu made a profit of 23 million EUR. Compare this to 2016 when they made a profit of 82.3 million EUR.

Also in 2019, they had deposits of 1.31 billion EUR. In 2016, they had 2.74 billion EUR in deposits.
 

CaLViN

Active Member
We have been working with Rietumu since 2009 under different companies.
Currently have one bank account active since 2016.
They have closed our previous accounts but we were able to use them 3-4 years or so.
No money left on the account after account closures so this is not a scam bank.
Lastly,i must admit that it is not like it was in 2010's.Banks ask too many questions and you have to work properly,have all documents ready when they start KYC.
 

Educate

Entrepreneur
We have been working with Rietumu since 2009 under different companies.
Currently have one bank account active since 2016.
They have closed our previous accounts but we were able to use them 3-4 years or so.
No money left on the account after account closures so this is not a scam bank.
Lastly,i must admit that it is not like it was in 2010's.Banks ask too many questions and you have to work properly,have all documents ready when they start KYC.
How is stealing money from customers disguised as mystical "fees" not a scam?
 

CaLViN

Active Member
Well,
our current monthly fee is 200 EURO.
They dont steal your money.You accept this fee and work with them or just close your account.
Is not everything clear at this point ? Where is the scam ?
You may not be earning well to pay this banks fees.Think about it..
 

Serni

New member
Well,
our current monthly fee is 200 EURO.
They dont steal your money.You accept this fee and work with them or just close your account.
Is not everything clear at this point ? Where is the scam ?
You may not be earning well to pay this banks fees.Think about it..
Scam is about the situation they put their clients 2.5 years ago, raising the fees from 50 to 1000 euro in 1 day, at the same moment freezing their accounts, leaving them no exit option. This is the scam and fraud and if they did it once, they will f**k their customers some other time again for sure.
 

blizz

Mentor Group Gold
Scam is about the situation they put their clients 2.5 years ago, raising the fees from 50 to 1000 euro in 1 day, at the same moment freezing their accounts, leaving them no exit option. This is the scam and fraud and if they did it once, they will f**k their customers some other time again for sure.
I agree that much, but still people using them worldwide :(
 

Latest Threads

Top