Great Britain has issued arrest warrants for former owners of Snoras bank Vladimir Antonov and Raimondas Baranauskas who went missing after losing their fight against extradition to face fraud charges in Lithuania, Bloomberg reports.
Raimondas Baranauskas, Vladimir Antonov
© Reuters/Scanpix

Antonov and Baranauskas both had their bail revoked by a London judge on Monday after Antonov's lawyers said he has fled to Russia, breaching his bail conditions.

Lithuania has spent over three years trying to extradite Antonov, a Russian citizen, and his Lithuanian business partner Baranauskas. The pair lost an appeal to block their extradition to Lithuania, where they are accused of forging documents and fixing accounts to siphon more than EUR 490 million from what was then the country's third-biggest bank by deposits, causing its collapse.

The 2011 collapse of Snoras and its Latvian subsidiary, Krajbanka, rocked the two Baltic nations, prompting about USD 2 billion of deposit-insurance payouts and a run on savings in Latvia.

The State of Lithuania nationalized Snoras on 16 November 2011, having concerns on the bank's assets. The bank was declared bankrupt on 24 November the same year. Baranauskas, Snoras CEO, and Antonov, chairman of Snoras council, owned 25.31 percent and 68.1 percent of the bank's shares respectively.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Hotel in Vilnius succeeded in prestigious Surface Travel Awards

The 17th-century mansion-turned-hotel located in Vilnius Old Town was named the winner in the large...

Actors and director get fines for 'church show'

Three actors and a director have been fined in Lithuania for disturbing a religious service at a...

Head of Holocaust memorial would like info to be available in Lithuanian as well

Avner Shalev, chairman of the Jerusalem-based Yad Vashem , the World Holocaust Remembrance Center,...

2020: The Year of Chiune Sugihara

Next year will mark the 80th anniversary of the Japanese diplomat’s noble work while residing in...

Czeslaw Milosz stairs unveiled in Krakow in 2nd such commemorative project after Vilnius

The Stairs of Czeslaw Milosz have been unveiled in Krakow to mark 15 years since the...