Financial Crime World

Lithuanian Authorities Conduct Searches in Several Companies: A Financial Crime Investigation

Vilnius: Searches in Unnamed Companies

Law enforcement officials are currently carrying out searches in several unnamed companies in Vilnius (BNS) as part of a pre-trial investigation following the arrest of Šarūnas Stepukonis, a former partner at BaltCap Infrastructure Fund.

Arrest of Šarūnas Stepukonis and Ongoing Investigations

  • Šarūnas Stepukonis has been arrested and is suspected of embezzling millions of euros.
  • The Vilnius City District Court issued a two-week arrest warrant for Stepukonis.
  • The Financial Crime Investigation Service (FNTT) is conducting two investigations against Stepukonis.
    • In one investigation, Stepukonis is identified as a suspected embezzler, having allegedly misappropriated over 27 million euros.
    • In the second investigation, which was reopened last week, Stepukonis is linked to a 3.9 million euro transfer from a Polish company to his account for the sale of shares.
  • The European Public Prosecutor’s Office (EPPO) is overseeing the investigation in collaboration with the FNTT, emphasizing the case’s significance and international ramifications.

Companies’ Searches and Statements

  • The spokesperson of the Financial Crime Investigation Service (FNTT), Modesta Zdanauskaitė, confirmed that searches are being carried out as part of the investigation.
  • A representative from BaltCap informed BNS that no searches were taking place at their headquarters.
  • Stepukonis is believed to have lost at least part of the embezzled money in a casino.

European Public Prosecutor’s Office Involvement

  • The European Public Prosecutor’s Office (EPPO) confirmed the searches to BNS and expressed their involvement in the investigations.
  • Both investigations against Stepukonis are being carried out by the FNTT and monitored by the European Public Prosecutor’s Office.
  • No decision has been made yet on whether to merge these investigations.