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Wednesday 22.01.2020 | Name days: Austris
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Kubilius accuses Snoras shareholders of financial crimes

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Lithuanian Prime Minister Andrius Kubilius believes that the two leading Snoras shareholders – Russian citizen Vladimir Antonov and a Lithuanian native Raimundas Baranauskas – should be held liable for committing financial crimes.

Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU

Lithuanian Prime Minister Andrius Kubilius

Prosecutors are set to interrogate both of the shareholders.

According to Kubilius, Antonov and Baranauskas intentionally triggered Snoras collapse by transferring huge sums to offshore accounts.

President of Lithuania Dalia Grybauskaitė agrees the government’s priorities are stability of the financial system and protection of Snoras clients’ interests. She approves of the Cabinet of Ministers intention to nationalize the bank and urges the Parliament to adopt special laws that would allow to do that as soon as possible, reports Regnum.

As reported, Lithuania Central Bank Lietuvos bankas decided on November 16 to appoint a temporary administrator to AB Snoras bank and apply temporary preventive measures to ensure protection of the bank’s assets.

The decision was taken to protect the interests of Snoras clients and the public in general and to ensure confidence and stability on the domestic banking system, bbn.ee reported.

The Board of the Bank of Lithuania is also set to submit to the Government a conclusion saying that the most effective solution of the bank’s problems is the government using its right laid down in the Law on Financial Sustainability and taking over the bank’s shares for the benefit of public needs.

Ref: 104.105.105.253


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  1. Vytas says:

    As usual the governement is not responsible and the taxpayers will repay the holders and clients .Bank owners are safely in Russia and the money in some tax heaven.The most incredible in it is the governement had been warned on that website few weeks ago and did nothing to prevent.

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