Minister Proposes Parliamentary Commission to Study Savisaar's Finances ({{commentsTotal}})

IRL Chairman Urmas Reinsalu
IRL Chairman Urmas Reinsalu Source: (Postimees/Scanpix)

Defense Minister Urmas Reinsalu said Parliament should open its own investigation into Tallinn Mayor Edgar Savisaar's finances, including the alleged 470,000 euros withdrawn from a Swiss bank account and a recent 'forgiven' loan of 173,000 euros.

“There are too many question marks hanging over the case,” Reinsalu told Delfi today.

“The fact that two-and-a-half years ago the Internal Security Service established that Savisaar asked for financing from Russia has largely been ignored during the current debate,” the minister said.

In mid-July, Savisaar's 2012 economic interests disclosure, which is mandatory for all high-level public employees, showed that a loan of 173,000 had been written off.

The mayor's lawyers said the amount was paid by royalties for his published and upcoming books.

The Prosecutor's Office is currently investigating a bank account in Switzerland from which 470,000 euros was withdrawn in cash. Savisaar and Alexander Kofkin, a businessman whose name has come up in connection with the investigation, attempted, but failed, to stop Estonian authorities from accessing documents related to the account.

Media outlets have speculated that Savisaar may have concealed funds in Switzerland that he had gained through corruption.

Savisaar has denied owning any accounts or funds in Switzerland.

Äripäev speculated in April that Savisaar's 173,000-euro loan was in fact part of a complex method of extracting money from the Swiss fund.