„Snoro“ bank did not allow money to be used to purchase assets, but to increase the bank’s capital, the reserve base for bad loans was increased,” V. Antonovas said in court when asked by Judge Aušra Bielskė how he allowed funds transferred from „Snoro“ to accounts he controlled and received for „Snoro“ securities.
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He told the court that he bought shares, bonds, and provided loans from the funds of „Snoro“ and the Russian capital group „Konversbank“ that controlled it, because in 2008–2009 the bank’s financial situation was difficult, so he would not have been able to maintain the bank with personal funds alone.
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