The European Public Prosecutor’s Office (EPPO) said on Friday it has requested the arrest of Šarūnas Stepukonis, a former partner at BaltCap Infrastructure Fund (BInF), who has allegedly embezzled 27 million euros from the fund.
“During the pre-trial investigation, it was established that Stepukonis [...] is suspected of embezzlement of at least 27 million euros,” the EPPO said in a press release.
“The EPPO has submitted a request to the pre-trial investigation judge of the Vilnius City District Court to arrest the suspect, who is hiding from the authorities. The judge approved the arrest warrant today,” it said.
An international search for the suspect has also been launched since his whereabouts are unknown.
Three BInF-managed companies have filed a lawsuit against Stepukonis and Olympic Casino Group Baltija, seeking the return of 16.6 million euros worth of financial assets and claiming around 29.5 million euros in damages.
The amount of the lawsuit may increase significantly if a yet unnamed BaltCap fund company in Poland joins the action.
Simonas Gustainis, a managing partner at BaltCap, has told BNS that Stepukonis gambled away millions of euros of BInF-managed companies’ money by falsifying documents and lying.
Gustainis did not disclose the exact amount of the stolen money but confirmed it could exceed 30 million euros.
Courts have frozen Stepukonis’ assets, including those held in gambling companies.
The pre-trial investigation is carried out by the Lithuanian Financial Crime Investigation Service and supervised by EPPO because Stepukonis’ actions may have caused damage to the EU bodies.
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