According to the portal, Teetas Tenderis, the managing partner of the audit company, confirmed to the Estonian business news publication “Aripaev” that “PwC” was the auditor of the “BaltCap” infrastructure fund and last audited the fund’s 2022 annual reports. He did not comment further on the situation.
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“BaltCap Infrastructure Fund” lawyer Ramonas Raskas commented to “Aripaev” that the purpose of the lawsuit is to obtain a court assessment of whether “PwC” properly fulfilled its duties according to applicable audit standards when the former fund manager Šarūnas Stepukonis may have embezzled company funds.
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The lawsuit began to be heard on Tuesday at the Harju County Court.
BNS reported that Š. Stepukonis is suspected of embezzling more than 42 million euros from the companies of the “BaltCap” infrastructure fund. He lost the majority of this money in online gambling.
