Baltic States – CIS, Banks, EU – Baltic States, Financial Services, Latvia, Legislation, Lithuania

Both former Snoras bank executives were named suspects in the case on large-scale misappropriation of assets and document forgery. Baranauskas is also suspected of fraudulent bookkeeping and abuse of authority, writes LETA/ELTA.

As reported, Lithuanian bank Snoras holds a 67.9% stake in now-troubled Latvian bank Latvijas Krajbanka.

Last week, Snoras was nationalized as Lithuanian authorities shut down the bank after it observed irregularities in the bank's operations.

LETA also reported, yesterday, Latvian State Police Chief Ints Kuzis reported that the assets discovered missing at Latvijas Krajbanka totals about LVL 100 million.

Krajbanka co-owner Antonov has been classified a suspect in the case, and a decision will come soon whether he will be sought and a warrant issued by Latvian authorities.