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Many East Europeans “red-capitalists” live in England. Now Police arrested Vladimir Antonov, but was released on bail.

Released Russian Vladimir Antonov `right ` and Lithuanian Raimondas Baranuskas leave Westminster Magistrates Court in London Photo Credit Reuters

In London, the Police arrested Russian banker and businessman Vladimir Antonov, announced Monday, citing the BBC.

However, a London court almost immediately released Russian businessman and Portsmouth Football Club owner Vladimir Antonov on bail following his arrest in connection with a massive money-laundering probe in Lithuania.

Antonov, 36, was detained yesterday on a European arrest warrant issued by investigators probing alleged fraud and money laundering at his banks in two Baltic states. He was arrested along with his Lithuanian partner Raimondas Baranauskas, 53.

Both said they did not consent to being extradited to Lithuania in an appearance today at Westminster Magistrates Court. Both were released on conditional bail and deny any wrongdoing.

The international arrest warrant of Vladimir Antonov was issued by the Prosecutor General of Lithuania. Such an capture order was also issued for Lithuanian citizen Raimundas Baranauskas.

Antonov and Baranauskas are among the largest shareholders of the nationalized Lithuanian bank  “Snoras”.  Both are suspected of embezzlement of property in large sizes, forging documents, maintaining a “black” accounting and abuse of authority, announced earlier today, the Prosecutor General of Lithuania.

The newspaper “Daily Telegraph” informed that both Baranauskas and Antonov denied the allegations and said that the nationalization of “Snoras” – one of the largest Lithuanian banks – is illegal.

Antonov, is also the owner of the English football team, “Portsmouth.”

The collapse of “Snoras” started with massive withdrawals of funds to its branches in Riga. To prevent any panic, regulators put a daily limit of $ 100 for withdrawing funds, informed Capital Daily. The criminal investigation into the accounting showed the lack of nearly $ 500 million from Snoras.

According to prosecutors the missing money may have been used to finance other projects of Vladimir Antonov. Some time ago he tried to buy the carmaker Saab, but his plans were thwarted by the European Investment Bank.