Bloomberg News

Ex-Snoras Bank Owner Antonov Loses U.K. Ruling Over Asset Freeze

February 04, 2013

Former Bankas Snoras AB owner Vladimir Antonov, who is fighting extradition to Lithuania to face fraud charges, lost a U.K. court ruling to lift a freeze of his assets and delay a related civil lawsuit.

Judge Elizabeth Gloster in London today also denied Antonov’s request to avoid giving a full list of his assets, which he argued would provide a trail for Lithuanian investigators to follow.

Antonov, a Russian, and his Lithuanian business partner Raimondas Baranauskas were detained in London in November 2011 after Lithuanian authorities issued a European arrest warrant on claims they forged documents and fixed accounts to siphon at least 1.7 billion litas ($668 million) from the country’s third- biggest bank by deposits, causing its collapse.

Snoras, based in Vilnius, filed a separate civil lawsuit in Britain seeking a similar amount in damages, and won a court order freezing Antonov’s assets. Antonov, accused of using the money to buy luxury homes, cars and a U.K. soccer team, claims the cases may be politically motivated due to articles in newspapers he owned.

To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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