Former Latvijas krājbanka Owner Vladimir Antonov Arrested in French Mansion near Baden
Since March 2025, Vladimir Antonov, the former owner of Latvijas krājbanka, has been hiding in the small French town of Mane-Mustan. He was convicted by the High Court of England in 2016 for causing nearly €100 million in damages to the bank. This arrest marks a significant step in international efforts to hold financially responsible parties accountable for major economic crimes.
Antonov’s conviction includes causing financial losses impacting notable individuals such as the composer Raimonds Pauls, who lost €1 million in Latvijas krājbanka. Antonov lived in a private residence near Baden, inaccessible without an electronic gate pass.
His arrest was made possible through collaboration between the European Border and Coast Guard Agency and the Lithuanian General Prosecutor’s Office. Local residents were unaware of his identity until the arrest, surprised by his choice of location to hide.
Latvijas krājbanka was once a major financial institution in Latvia but suffered significant losses leading to prolonged legal proceedings. Antonov’s case has drawn attention from financial regulators and law enforcement across multiple countries.
This incident underscores the importance of international cooperation in combating financial crimes and restoring justice to those affected. Future legal steps are expected to reveal additional details and clarify the scope of the fraud.
Developments likely include Antonov’s extradition and subsequent trials, which will resonate strongly within the European financial community.
