Banks, Financial Services, Legislation, Lithuania
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Friday, 26.04.2024, 19:07
Snoras probe puts damage at around EUR 500 mln
They said sufficient evidence was collected during the pre-trial
investigation to prove the suspects' guilt in committing the crimes.
Prosecutor Darius Stankevicius of the Organized Crime and
Corruption Investigation Department at the Prosecutor General's Office
said Raimondas Baranauskas and Vladimir Antonov are suspected of
large-scale misappropriation and embezzlement of Snoras' assets, as well
as criminal bankruptcy and asset laundering.
"Today I made the decision to close the
investigation," Stankevicius said at a news conference, adding that he
would inform Russian prosecutors about the completion of the probe.
"(...) the suspects are hiding in Russia and are not
extradited to Lithuanian law-enforcement. The criminal activity resulted in
extensive material damage amounting to almost half a billion euros," he
said.
Other formal suspicions brought against the two men include
fraudulent accounting, abuse of office and document forgery.
Baranauskas has asylum in Russia
When asked what identify document Baranauskas
currently has, Stankevicius said the former CEO of Snoras has been granted
the status of a refugee in Russia, but no other details are known, adding that
his Lithuanian passport has expired.
"The Prosecutor General's Office of the Russian
Federation has officially notified us that Baranauskas has been granted refugee
status," he said.
"We have no further information and the Russian
Federation would not provide it to us. Therefore, I cannot answer your question.
He must have some document".
The prosecutor said the search for the suspects will
continue until they are found.
The prosecutors suspect that 35 transfers, worth from 5 mln
euros to 74 mln euros, of Snoras' cash and securities into personal accounts at
Swiss-based banks were performed between the fall of 2008 and the summer of
2011.
They also suspect that two large-scale unlawful transactions
in Snoras' assets were concluded between 2009 and 2011.
They say Snoras suffered a loss of almost 500 mln euros as a
result of all these transactions.
Stankevicius explained that damage was caused to the bank's
creditors and shareholders and, indirectly, to the state, which compensate
eligible depositors for their lost money.
500 mln EUR civil action, restrictions on assets in Snoras' case
Robert Sadianec,
head of the Special Task Board at the Financial Crime Investigation Service,
said the team of Snoras' bankruptcy administrator brought a civil action
worth almost 500 mln euros and was recognized as a civil plaintiff in the
pre-trial investigation.
"Assets worth 230 mln euros were located throughout the
pre-trial investigation period and are currently under restrictions,"
Sadianec said.
"The search for assets and ownership right restrictions
covered a total of 18 states. The assets involved ranged from cash in bank
accounts to cars and businesses owned by the suspects," he said.
As part of the complex investigation, around 100 people in
Lithuania and abroad were questioned and procedural coercive measures were
taken more than 50 times to find and obtain evidence, the official
said.
Sadianec added that most of the documents were obtained from
Swiss banks.