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

Antonov has been declared a suspect in Latvia in connection with LVL 100 million that has gone missing from Latvian bank Latvijas Krajbanka, writes LETA.

On the other hand, Lithuanian media report that approximately LVL 200 million has gone missing from Snoras bank.

As reported, yesterday, Lithuanian Prosecutor General Darius Valys signed a European arrest warrant for Antonov and his partner at Snoras bank Raimondas Baranauskas.

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.

LETA also reported, Snoras holds a 67.9% stake in now-troubled Latvian bank Krajbanka.

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

Earlier this week, Latvian State Police Chief Ints Kuzis reported that the assets discovered missing at 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.