London, UK (TDN) -- Former Dominica offshore bank owner Vladimir Antonov, 37, is to be extradited to Lithuania to face fraud charges, a British court has ruled.
Antonov and his Lithuanian business partner Raimondas Baranauskas are accused of taking as much as 500 million euros from Lithuanian bank Snoras.
The court ruled that the men would face a fair trial and have been given seven days to apeal the ruling.
In November 2011 the Lithuanian goverment issued an interntional arrest warrant for the two men and they were subsequently arrested in Britain that same month, where the hearing was held.
The Russian businessman Anatov was also owner of British footbal team Portsmouth. Griffon Bank, which was housed at the government headquarters in Roseau Dominica was later renamed Banco Transatlantico with a sister branch in Panama Banco Transatlantico S.A.
Antonov is also reported to have a huge stake in the West Indies Power Company (WIPC). In 2010, WIPC secured an exclusive license from the Dominica government to engage in geothermal drilling on the island.
The company has since been accused of paying bribes to the Dominican government in exchange for securing the license.
At the time of his arrest in November 2011, the bank shut down and many customers wondered aloud if the government of Dominica would do anything to guarantee their deposits. In response a blogger cynically noted: “How did you end up banking in a small nation of 70000 people where they sell passports over the counter, the entire core and system is built on corruption and on top of this with a unit owned by a Russian mobster who is just slightly over 35 years old.”