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Published: 30 november 2012 09:15

Lithuanian prosecutors have seized nearly billion litas of Snoras owners' assets

Vladimiras Antonovas ir Raimondas Baranauskas
Šarūno Mažeikos/BFL nuotr. / Vladimir Antonov and Raimondas Baranauskas

The value of assets seized from Vladimir Antonov and Raimondas Baranauskas, former owners of bankrupt Lithuanian commercial bank Snoras, and their relatives has increased almost threefold, to 805 million litas (EUR 233.33m), from around 300 million litas at the end of December.

“The value of seized property has increased since we trace more assets. Moreover, the assets include securities which change in value constantly,” Rūta Dirsienė, spokeswoman for the Lithuanian Prosecutor General’s Office, told BNS on Thursday.

The Prosecutor General’s Office said that it had restricted the suspects’ rights of ownership to the assets of that value.

This measure had been taken as part of the pre-trial investigation into alleged large-scale embezzlement, money-laundering, abuse, fraudulent bookkeeping, document forgery, and other instances of criminal offence committed at Snoras, the law enforcers said.

Snoras’ former shareholders, Antonov and Baranauskas, are suspected of appropriation of Snoras’ assets worth around 1.7 billion litas. Lithuanian prosecutors have issued a European arrest warrant for the two men, who currently reside in London and are fighting their extradition.

The Westminster Magistrate's Court in London is expected to decide on 21 January 2013 whether or not to hand the two men over to Lithuania.

The Lithuanian government nationalized Snoras in November 2011. A court opened bankruptcy proceedings against the bank in early December.

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