2012-05-28
The Bank of Lithuania submitted documents revealing additional details of the disappearance of AB bankas SNORAS assets
After the Chairman of the temporary commission of the Seimas on the investigation of efficiency of supervision of commercial banks operating in Lithuania and the situation in the liquidated bank AB bankas SNORAS (hereinafter – the Commission) publicly expressed doubts that the documents proving the decrease of assets of AB bankas SNORAS were not submitted, the Bank of Lithuania submitted to the Commission additional documents received from the bankruptcy administrator, which indicate in more detail that securities and monetary funds declared by AB bankas SNORAS were not actually owned by it.
The Commission was provided with the set of documents of 121 pages, which consists of detailed system records of the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”), which clearly show how securities acquired and owned by AB bankas SNORAS and its monetary funds were transferred to the accounts of private persons in Swiss banks without any compensation to AB bankas SNORAS.
The Commission was also presented with correspondence and other documents, indicating whose accounts AB bankas SNORAS assets were transferred to. Documents also reveal the actions which were possibly undertaken to conceal the disappearance of assets.
“The data collected by the Bank of Lithuania, AB bankas SNORAS temporary and bankruptcy administrators, which were submitted to the Commission earlier, already proved that the decisions regarding the bank were based on solid evidence. Now, the additional documents submitted to the Commission reveal already with the precisions of seconds how and when assets disappeared from the bank”, said Mr. Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania.
The Bank has already submitted to the Commission more than 100 documents, which include a detailed official letter of the special working group of the Bank of Lithuania and AB bankas SNORAS inspection commission presenting proof of lower than declared assets of the bank. The Bank of Lithuania also submitted to the Commission a comprehensive (114 pages) report of the temporary administrator, which presents specific values of decline of various assets. These data are based on the analysis of statements of AB bankas SNORAS accounts and the information received from other banks, where, as AB bankas SNORAS declared, its securities and other assets were held. The Lithuania branch of the international audit company “Deloitte” participated in the preparation of the report of the temporary administrator.