Bloomberg News

Lithuanian Prosecutors Double Claims for Former Snoras Owners

June 04, 2012

Lithuanian prosecutors doubled the amount in claims from former Bankas Snoras AB owners Vladimir Antonov and Raimondas Baranauskas after additional investigations.

Authorities estimate the men allegedly stole about 1.7 billion litai ($610 million) by forging documents and accounting irregularities, the prosecutor’s office in Vilnius said in a statement on its website today. The prosecutors issued renewed European arrest warrants for the bankers with new claims, it said.

Antonov and Baranauskas are fighting Lithuania’s bid to extradite them from the U.K. over claims of fraud and embezzlement at Snoras. The men deny any wrongdoing, saying the move is a politically motivated campaign of revenge after Antonov’s media company published articles critical of the government.

Lithuania’s central bank took over Snoras, then the country’s third-biggest bank by deposits, in November after discovering assets reported on the lender’s balance sheet were missing.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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