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)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.