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Saab automobile may be required to repay what Vladimir Antonov borrowed the company
Saturday, 26 November 2011
Vladimir Antonov, the man who was extremely interested in Saab automobile in reported to have created a comprehensive Baltic banking crisis. It is speculated that Saab automobile may now be forced to repay hundreds of millions which is believed was stuffed into the car company by Antonov. Swedish Economic Crime Authority expects to support a Baltic criminal investigation in their findings.

A total of about over Skr10 billion have been stripped off the two banks, Snoras and Krajbanka, controlled by Russian financier Vladimir Antonov according to an analysis of Latvia's and Lithuania's central bank made from the banks' balance sheets.

As reported recently, it was suspected by representatives of the Latvian Financial and Capital Market Supervisory Authority (FCMC) that some of the money was used by Vladimir Antonov in his attempt to buy Saab automobile.

No the Swedish Economic Crimes Bureau (EBM) has said that it will assist the Baltic authorities to help track such assets in Sweden.
According to Janis Placis of the Latvian Financial Authority, there is not yet a full picture of the chain of events. But he says that it may involve fraud. Late on Thursday night, Vladimir Antonov was arrested along with his business partner by British police in the London's business district.

The arrest came after a European arrest warrant issued by Lithuania's public prosecution earlier this week. The Lithuanian Prosecutor General will now request that the British authorities extradite Vladimir Antonov and his partner to the country.

The investigations in Lithuania and Latvia shows so far that a total of about 1.3 billion USD, about Skr9 billion, in the Lithuanian bank Snoras and approximately Skr1.3 billion in the subsidiary bank Krajbanka in Latvia is unaccounted for. Antonov controlled 68 percent of snoras banks until last week.

Bank of Lithuania has requested Snoras bank to be declared bankrupt and that bankruptcy should also follows Krajbanka. A request for a bankruptcy order for Krajbanka should be submitted early next week. The decision has also resulted in a political crisis in both countries.

According to his own admission Vladimir Antonov lent Skr800 million to Victor Muller's company. According to other unconfirmed information to Swedish media sources, it is much more than that. A sum Antonov’s former spokesman in Sweden, Lars Carlstrom, mentioned, is about Skr1.4 billion.

Victor Muller, the main owner of Saab and chairman, denied that Vladimir Antonov lent money directly to Saab or the Dutch holding company Swan, which Muller controls and which owns Saab in Trollhattan.

“That no loans have been given in accordance with the agreement reached with GM in January 2010,” writes Muller in an SMS reply.
However, he confirmed that the Russian financier lent 74 million euros, almost Skr700 million to his own investment company, Tenaci Capital, which is a major owner of the Swan.

Muller does not believe that the events of recent days about the Antonov will affect Saab.
Vladimir Antonov apart from Saab also indirectly has interests in the troubled airliner Air Baltic. Both Snoras bank and Krajbanka are reported to have lent large sums to the airline.
By Scancomark.se Team

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