The million euros obtained by Călin Georgescu from Răzvan Leu, which ended up in a Latvian bank closed by the European Central Bank for irregularities related to money laundering

The sum of 1.1 million euros paid by businessman Răzvan Leu for the benefit of Călin Georgescu first reached an account associated with Swiss banker Thomas Schätti, and then Baltic International Bank SE, in Riga, Latvia, according to a HotNews.ro investigation. The transactions date back to December 2021, and the trail of the money is relevant in the context of the investigation in which Georgescu is accused of fraud.

Răzvan Leu is said to have been convinced that the sum represented a necessary guarantee for obtaining an international loan. From the account associated with Schätti, the first payment, amounting to 4 million euros, was transferred to Baltic International Bank SE.

The Latvian bank was sanctioned repeatedly and closed by the European Central Bank in 2023. In 2025, the General Court of the European Union established that the institution had committed, over an extended period, serious breaches of legislation on combating money laundering and terrorist financing.

The bank's former management is on trial in Latvia for forming an organized criminal group and laundering approximately 20 million euros. In the United States, Thomas Schätti is accused of having used 21 million dollars belonging to Migom Bank clients to purchase shares and take over Baltic International Bank without the authorities' approval.