Ūkio Bank is one-third controlled by Vladimir Romanov.
VILNIUS — After British tabloid News of the World published an article Monday alleging Lithuania’s Ūkio Bank is under investigation for allowing €1.7 billion in laundered funds to pass through its accounts, the bank denied the story’s details but confirmed the investigation is taking place.
The article alleges that Ūkio was reported to Belgian authorities by the Dutch financial giant ING in regards to a string of transactions in two accounts opened by them, and that anti-corruption cops discovered €1.7 billion of alleged dirty money moved though the two ING accounts by 460 companies. The ING accounts were allegedly opened by Ūkio.
After News of the World’s story was posted on its website Monday the Lithuanian media widely reported the story. However, the same news actually came out three weeks ago in the Belgian press, and while authorities did not include the names of the banks involved in the investigation the De Tijd business newspaper confirmed that ING and Ūkio were involved via anonymous sources in an article published May 28.
Ūkio, controlled by one-time Lithuanian presidential candidate Vladimir Romanov, denied the details of the report on Monday, saying that the bank abides by all national and EU laws and “the data [in the article] does not reflect reality.”
However, Ūkio spokesman Linas Kontrimas confirmed Monday that the investigation was taking place to the Verslo Žinios business newspaper.
“Ūkio Bank was notified of the message, but it was a few weeks ago, and immediately launched an internal investigation. Until the investigation is complete and all information is sure, the bank does not want to comment further,” Kontrimas said.
Belgian authorities are not commenting on the case as the investigation is ongoing.
Romanov, whose presidential bid was denied on the grounds that he was born in Russia, not Lithuania is also the owner of the Žalgiris basketball team and the Heart of Midlothian F.C. The News of the World story highlighted the investigation’s impact on the Hearts club.
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