Lithuanian businessman Vidmantas Kucinskas says he has no knowledge of large-scale fraud charges against him in Russia. Russia’s Alfa Bank is trying to recoup a debt of around 20 million euros from Kucinskas through courts, and the latter believes the bank might try to employ such tactics to bolster its position during the negotiations on their dispute’s out-of-court settlement, launched some six months ago.
According to Laurynas Lukosiunas, a lawyer representing the Russian bank, who informed about the fraud charges against Kucinskas in Russia, the Lithuanian businessman is accused of deliberately providing the bank with false information about the financial situation of Arvi NPK, a fertilizer producer that operated in the Russian region of Kaliningrad and belonged to Kucinskas. It allowed Arvi NPK to receive a loan of more than 9 million euros from the bank, guaranteed personally by Kucinskas.
Read more: delfi.lt.