A British court has seized the assets of Russian businessman and Lithuania's Snoras bank shareholder Vladimir Antonov upon the request of the bank's bankruptcy administrator. The seized property is worth an estimated 493 million euro. In 2011, the Lithuanian government decided to nationalize the bank to rescue it from bankruptcy. Snoras then suspended its operations. Later in 2011, the Bank of Lithuania acknowledged that even a federal funds injection would not save the bank and decided to shut Snoras down. Both major Snoras shareholders - Antonov and his Lithuanian business partner Raimondas Baranauskas - have been suspected of appropriating the bank's assets and financial fraud. They were arrested in London in late November 2011 upon the Lithuanian Prosecutor General's Office's request. They were later released on bail.
http://www.rapsinews.com/judicial_news/20120523/263243765.html
http://www.rapsinews.com/judicial_news/20120523/263243765.html
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