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Saturday 27.05.2017 | Name days: Loreta, Dzidra, Gunita, Dzidris
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Antonov sentenced to three years in prison in England

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For his contempt of the court, former owner of Latvijas Kraijbanka Vladimir Antonov has been sentenced to 12 months in prison in England. Antonov is currently in Russia, as reported by De Facto programme.

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvijas Krajbanka’s insolvency administrator turned to the British court with a plea against Antonov, mentioning eight separate cases over the course of multiple years when the owner of the bank and its council member Antonov had caused losses for the bank.

It seems likely that information about the court satisfying the plea on 27 May is correct. The court decided that evidence for each separate case proves that Antonov had made the bank provide money to people associated with him. This money was also never paid off. With that, the court concluded that Antonov’s actions caused the bank losses worth EUR 60.5 million and USD 30.8 million. Antonov now has to compensate this amount.

Antonov refused to reveal any information regarding his assets and left the country in defiance of the court’s request. Antonov has been sentenced to 12 months in prison in Britain.

Two of the questionable transactions took place when Latvijas Krajbanka was still managed by then a Saeima deputy Martins Bondars. He claims Antonov had never taken part in the issue of loans. Bondars say he did not know that part of the bank’s money was disappearing in companies associated with Antonov. «No, we’ve never had such suspicions. Because if there had been such suspicions, no loans would have been issued – that would have been a blatant violation of regulations that govern capital sufficiency.»

Representative of KPMG, Latvijas Krajbanka’s insolvency administrator, sworn attorney Una Petrauska says enforcement of losses from Antonov has yet to begin. Antonov was given time to comply with the court’s ruling. It is worth keeping in mind that the bank is not Antonov’s only creditor.

Antonov’s lawyer Viesturs Zauls does not reveal if his client owns large amounts of money. He mentions that it was never Antonov’s goal to put the bank out of business. Most of the bank’s money was used to finance airBaltic.

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