Ex-Snoras Bank Owner Antonov Loses U.K. Ruling Over Asset Freeze

Former Bankas Snoras AB owner Vladimir Antonov, who is fighting extradition to Lithuania to face fraud charges, lost a U.K. court ruling to lift a freeze of his assets and delay a related civil lawsuit.

Judge Elizabeth Gloster in London today also denied Antonov’s request to avoid giving a full list of his assets, which he argued would provide a trail for Lithuanian investigators to follow.

Antonov, a Russian, and his Lithuanian business partner Raimondas Baranauskas were detained in London in November 2011 after Lithuanian authorities issued a European arrest warrant on claims they forged documents and fixed accounts to siphon at least 1.7 billion litas ($668 million) from the country’s third- biggest bank by deposits, causing its collapse.

Snoras, based in Vilnius, filed a separate civil lawsuit in Britain seeking a similar amount in damages, and won a court order freezing Antonov’s assets. Antonov, accused of using the money to buy luxury homes, cars and a U.K. soccer team, claims the cases may be politically motivated due to articles in newspapers he owned.

To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

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