Financial Crime Investigation Service

Two persons have been named suspects in illegally acquiring more than EUR 500,000, the Financial Crime Investigation Service (FNTT) said Thursday. One of them is Viktor Uspaskich, former member of the European Parliament.

Law enforcement has detained and questioned Šarūnas Stepukonis, former partner of BaltCap Infrastructure Fund suspected of misappropriation of millions of euros, reports news website 15min.lt.

A pre-trial investigation into alleged misappropriation of around EUR 30 million from the BaltCap Infrastructure Fund is of very large scope, prompting officials to refrain from making any initial conclusions, says the Financial Crime Investigation Service (FNTT).

The Bank of Lithuania notes that Estonian authorities were responsible for overseeing BaltCap Infrastructure Fund, whose former partner is suspected of embezzling and gambling away millions of euros of the fund’s money. Managing Partner of BaltCap equity fund Simonas Gustainis describes the situatio...

Lithuania's Financial Crime Investigation Service has granted the status of a special witness to another member of Prime Minister Saulius Skvernelis' team, adviser on health issues Jonas Kairys, as part of an ongoing investigation into the procurement of rapid coronavirus tests.

Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic region has been hit by several money laundering scandals in recent years.

Systemic corruption is the most dangerous and its initiators pose the biggest threat as experience shows they are often former officers, Zydrunas Bartkus the director of Lithuania's Special Investigation Service (SIS) says.

Lithuania's Financial Crime Investigation Service has on Tuesday seized documents from Vilnius City Municipality over the procurement of lung ventilators, and has also carried out searches at a company Andrikus.

A total of 11 people, including prosecutors, an officer of the country's Financial Crime Investigation Service and a lawyer, have been detained in Lithuania as part of a pre-trial investigation into various corruption crimes, the prosecution service said on Wednesday.

Six Lithuanian institutions signed on Thursday a renewed agreement to cooperate in combating sports manipulation.

Traders in precious metals in Lithuania are suspected of illicit million-worth asset legalization as over 1 million euros has been seized during an investigation on Wednesday but the scope of illegal activity is believed to have reached 10 million euros.

Aleksandras Sukovas, the head of Tez Tour, one of the largest tour operators in Lithuania, as well as VIP Viesosios Informacijos Partneriai, Aza Tours and several other companies are suspected of document forgery and tax evasion, the Verslo Zinios business daily writes.

Five orthopedic product retailers in Lithuania are suspected of defrauding the National Health Insurance Fund (VLK) of at least 1 million euros, the Financial Crime Investigation Service (FNTT) said on Friday.

Lithuania plans to step up control of activity of ICO (Initial Coin Offering) companies, virtual currency exchanges and depository wallet operators, and also plans to introduce requirements for them to ensure effective prevention of money-laundering and terrorism funding.

Investigators suspect that illegal workers from Ukraine and Belarus were hired for reconstruction works on Vilnius' landmark Gediminas Hill, the Financial Crime Investigation Service (FNTT) said on Wednesday.

Following media reports that the UK-based fintech startup Revolut, which already has an e-money license in Lithuania, plans to apply for an e-money license in Ireland, the company says the move does not change its plans in Lithuania.

In a change of anti-money laundering tactics, Lithuania's authorities open pre-trial investigations even if there are only suspicions about the origin of money, an official said on Wednesday.

The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized bank in Lithuania from the first to the second half of this year, Antonia Green, a spokesperson for the company, told BNS Lithuania.

The British fintech startup Revolut's activity in Lithuania might cause problems for the country, Antoni Mikulski, head of the Lithuania's Financial Crime Investigation Service, has warned.

The Lithuanian government is considering introducing, based on the Estonian model, the status of an e-resident to allow foreigners to set up companies, open bank accounts or declare taxes online.