Support The Moscow Times!

Snoras Money Tracked

Bankas Snoras, the failed bank seized by the Lithuanian state in November, allegedly bought securities worth 1.03 billion litai ($380 million) that were later transferred to private Swiss bank accounts of people related to former shareholders, Lithuanian central bank governor Vitas Vasiliauskas said Tuesday in the parliament in Vilnius.

Former Snoras owners Vladimir Antonov and Raimondas Baranauskas were arrested on Nov. 24 in London after Lithuanian authorities issued European arrest warrants over claims of fraud and embezzlement. The men deny any wrongdoing.

Another 553 million litai of the missing Snoras assets were loans to offshore funds in the Cayman and British Virgin Islands, the central bank said.

(Bloomberg)

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more