Police Arrest Portsmouth Chief Vladamir Antonov

November 25, 2011

The owner of Portsmouth football club Vladimir Antonov and his business partner, herbal Raimondas Baranauskas are due to appear in court charged in connection with the asset stripping of Bankas Snoras.

City of London confirmed the arrests of two men, aged 36 and 53, in response to rumours that Lithuanian prosecutors were looking to question the pair. On Tuesday, the prosecutors were granted their request by a court in Lithuania and a pre-trial investigation into alleged fraud and money laundering immediately began.

In a statement, the prosecutors said: “Both former managers of the bank Snoras have been recognised as suspects with regard to misappropriation of property on a large scale and forgery of documents.

“Prosecutor General Mr D Valys signed European arrest warrants issued against these persons.”

Both are shareholders and former managers of the bank, yet both vehemently deny any unlawful activity. Mr Baranauskas also occupied the posts of chairman of the bank board and president.

Last week Antonov owned CSI released a statement saying: “In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual.”