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Friday 21.07.2017 | Name days: Meldra, Meldris, Melisa

UK issues order to arrest former owners of Latvijas Krajbanka and Snoras Banka

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBritain has issued an order for the arrest of former owners of Latvijas Krajbanka and Snoras Banka Vladimir Antonov and Raimonds Baranauskis. When Antonov’s lawyer announced that his client had departed to Russia, the British court called back the decision to allow the aforementioned individuals to remain free in exchange for bail money.

For the past three years Lithuania has been working to secure the extradition of the two bankers. Lithuania wishes to prosecute them for the misappropriation of Snoras Bank’s properties worth EUR 490 million. It is believed that it is the aforementioned bankers’ actions that led to the bank’s bankruptcy. Lithuanian prosecutors have also arrested Antonov’s and Baranauskis’ properties worth EUR 233 million.

At the beginning of May, the British Supreme Court declined Antonov’s and Baranauskis’ counter-claim regarding last year’s decision by London Westminster Court to extradite them to Lithuania. The court did not believe their arguments about their case being politically motivated.

Following the announcement of this ruling, Antonov and Baranauskis disappeared. Last week, Britain informed Lithuanian Prosecutor’s Office that the whereabouts of the two bankers is unknown to British authorities. At the same time, British authorities assured that everything will be done in order to resolve this situation.

As it is known, on 16 November, 2011, Lithuanian government nationalized stocks of Snoras Bank in fears for its financial state. On 24 November the Board of Snoras Bank announced its decision to liquidate the bank. The bank’s bankruptcy case was launched shortly after. It was estimated that its assets were billions of litas lower than the bank’s debts.

Lithuanian citizen Baranauskis was the head of Snoras management Board and Antonov was the head of the Supervisory Council. They owned 25.31% and 68.1% of shares in Snoras bank.

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