Legislation, Lithuania, Markets and Companies

"He was returned to Lithuania and placed under a measure of restraint in the form of a bail of 20,000 euros," said Zenas Leonavicius of the Kaunas Regional Prosecutor's Office. 

Kaunas District Court imposed the measure on Sunday, he said. 

It was reported on July 24 that Kucinskas had been detained in Slovenia at the request of Russia where he is suspected of fraud. 

It was reported earlier that Russia's Alfa Bank was trying, through courts, to recover a debt of around 20 mln euros from Kucinskas. The bank's lawyer has said that the Lithuanian businessman was suspected to have intentionally provided wrong information to the bank about the financial situation of Arvi NPK, a fertilizer producer operated in Russia's Kaliningrad region.  

Laurynas Lukosiunas of the law firm Sorainen, who represents Alfa Bank, has said that the Arvi Group's debts to international creditors may amount to 40 mln. euros. 

In early August, the Lithuanian Prosecutor General's Office asked Slovenia to hand over Kucinskas who is a suspect in a pre-trial investigation by the Kaunas Regional Prosecutor's Office.

The 15min.lt news website has reported that the businessman is suspected of fraud and criminal bankruptcy.