In the world of Lithuanian business, yet another conflict is brewing. This time, the major shareholder of ‘Ukio Bank’, Vladimir Romanov and the president of ‘MG Baltic’, Darius Mockus have been in a feud reports delfi.lt .
In Wednesday’s edition of ‘Vilniaus Diena’ (Vilnius Day), a newspaper associated with Romanov’s company , there were plenty of accusations . V. Romanov claimed that MG Baltic president, D. Mockus is guilty of threats and blackmail. He further stated that MG Baltic has failed to pay 5 million litas in interest payments and over 2 million litas more in fines to Ukio Bank.
The article explained that MG Baltic borrowed over 46 million litas from Ukio Bank, where Romanov is the majority shareholder. For this loan, they put up 12 hectares of land for collateral. According to Romanov in the Vilniaus Diena article, ownership of this land is now forfeit and it belongs to Ukio Bank.
The newspaper article claims that because of this , “The owners of the bank face blackmail and pressure plus other threats from Darius Mockus, president of MG Baltic.”
After these accusations in the publication there is a comment from Romanov where he blasts MG Baltic representatives. He basically states that the leaders of MG see themselves as kings and described the events that are taking place there right now are the “unhealthy actions of mentally ill people”.
When contacted by DELFI , Mockus refused to comment on the barrage of charges leveled by Romanov . He said , “ Later we will distribute a very detailed statement . We have gathered all the data, so everything will be accurate and you will receive our response shortly.”
Translated by Monika Mikučionytė
Edited by Neal Maloney
There are few things less edifying that seeing banks and shareholders; the financial elite falling out. An image of maggots over an opal wound comes to mind.