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Update on 12 February 2024 – Former partner of the BaltCap Infrastructure Fund, Mr Sarunas Stepukonis, who is suspected of having misappropriated €27 million from the fund, was detained on 10 February 2024, at our request. Today, the Vilnius City District Court decreed the arrest of the suspect for two weeks, until 24 February 2024. The coercive measure will be reviewed on that date.
(Luxembourg, 2 February 2024) – The European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania) has requested the arrest of a former partner of the BaltCap Infrastructure Fund, Mr Sarunas Stepukonis, who is suspected of having misappropriated €27 million from the fund.
Last week, the EPPO took over a criminal case initiated by Lithuania’s Regional Prosecutor’s Office in Vilnius, into the misappropriation of funds from the BaltCap Infrastructure Fund – an €80 million investment fund, focusing on infrastructure projects in the Baltic countries. The BaltCap Infrastructure Fund is supported by the European Investment Bank (EIB) with €20 million, under its Investment Plan for Europe.
During the pre-trial investigation, it was established that Mr Stepukonis, a former partner of the BaltCap Infrastructure Fund, and former member of its Investment Committee, is suspected of embezzlement of at least €27 million. The EPPO has submitted a request to the pre-trial investigation judge of the Vilnius City District Court to arrest the suspect, who is hiding from the authorities. The judge approved the arrest warrant today.
All persons concerned are presumed to be innocent until proven guilty in the competent Lithuanian courts of law.
The European Public Prosecutor’s Office (EPPO) is the independent public prosecution office of the European Union. It is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.