Ex-Snoras Owners Antonov, Baranauskas Get Bail From U.K. Court
Former Bankas Snoras AB (SRS1L) owners Vladimir Antonov and Raimondas Baranauskas told a U.K. judge they were innocent of Lithuanian allegations of fraud and embezzlement that pushed the bank into insolvency.
Antonov and Baranauskas were granted bail by Judge Caroline Tubbs at a hearing in London today. They were arrested in London yesterday after Lithuanian authorities issued a European arrest warrant.
Antonov “strenuously denies dishonesty in any of his dealings,” Rachel Scott, his lawyer, told the court. “He doesn’t impose a serious flight risk.”
The Lithuanian government took over Snoras, the country’s third-biggest bank by deposits, on Nov. 16 after the central bank discovered that assets reported on the lender’s balance sheet were missing. The Central Bank said today that Snoras was insolvent and would seek court protection.
To contact the reporters on this story: Erik Larson in London at elarson4@bloomberg.net
To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net
Rate this Page