By Andrew Warshaw
November 23 – A European arrest warrant has been issued by Lithuanian prosecutors for the Russian owner of troubled English Championship club Portsmouth.
According to media reports, Vladimir Antonov (pictured) and his Lithuanian business partner Raimundas Baranauskas are the main suspects in an investigation into an alleged fraud and money laundering.
Both are former managers and shareholders of Snoras Bank which was nationalised last week after regulators discovered a huge asset shortfall.
In a statement, Lithuanian prosecutors said: “Both former managers of the bank Snoras have been recognised as suspects with regard to misappropriation of property on a large scale and forgery of documents.”
In February 2010, Portsmouth became the first Premier League club to be placed into administration and has since dropped down a division.
Antonov is the latest in a line of Portsmouth owners to come under the spotlight.
Milan Mandaric sold the club to Sascha Gaydamak in 2006, who turn sold it on to Sulaiman Al Fahim.
After a short period, Saudi businessman Ali Al Faraj took over in 2009 but soon sold it on again to Balram Chainrai.
After the club went into administration in late 2009, Chainrai took control once again before selling to current owners Convers Sports Initiatives (CSI), earlier this year.
In a statement, CSI attempted to play down the latest controversy by confirming it was business as usual at the South-Coast club.
“In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual,” it said.
“We are operationally unaffected by the Snoras Bank entering temporary administration.
“CSI has been solely financed through the private wealth of its owners.
“Snoras Bank has never provided funding for the purchase of a CSI organisation, nor has it lent any money to these businesses after they have been acquired.”
Meanwhile, the club still owes hundreds of pounds to creditors following a pledge by Chainrai that all small claims would be settled post-administration.
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