ECB official’s criminal immunity

EU court decision waives ECB official’s criminal immunity

Ilmārs Rimšēvičs of Latvia faces accusations of accepting bribes.

BY JOHANNA TREECK

European Central Bank Governing Council members do not enjoy criminal immunity for possible wrongdoings committed outside their central-banking duties, the European Court of Justice said Tuesday.

As a result, Ilmārs Rimšēvičs, former president of the Bank of Latvia, had his immunity as a member of the ECB’s Governing Council waived. Rimšēvičs faces accusations of accepting bribes. The former central bank chief denies the allegations.

The Court rules that “where a criminal authority finds” that the conduct under investigation was not committed in the official capacity of a central bank governor, “proceedings against him or her may be continued since immunity from legal proceedings does not apply."

The statement added that "acts of fraud, corruption or money laundering are thus not carried out by such a governor in his or her official capacity."

The ruling will be monitored particularly closely in Slovakia, where in October central bank governor Peter Kazimir was charged with bribery. Kazimir denies the charges.

The ECB declined to comment on the ruling.