Antonov Granted Bail
By Jim Bonner
Updated Friday, 25th November 2011
Pompey owner to return to court on Friday, December 16th.
Vladimir Antonov has been granted bail after his arrest last night but will return for a hearing on December 16th after today's extradition hearing was adjourned.
City of London Police arrested Antonov in his ofice in Bishopsgate last night along with his business partner Raimondas Baranauskas. The pair have been accused of misappropriating over £200 million from Bankas Snoras, which Lithuanian authorities now say must be liquidated.
Another of Antonov's banks, Latvijas Krajbankas had seen an unexpected outward cashflow in recent days and has had its operations suspended by regulators with an investigation pending.
With Antonov accused of stealing money from Bankas Snoras by forging documents, the Lithuanian authorities wanted to extradite him and Baranauskas back to their country but the hearing has been adjourned with both granted bail.
Antonov's bail conditions are that must pay a security of £75,000, surrender his passport, live and sleep at his London home, and report to Notting Hill police station between 8am and 10am every Monday, Wednesday and Friday.
The most worrying aspect of this hearing from Pompey fans' point of view was Roman Dubov's comment earlier in the day when he told The News: "I am trying to save the business and help a lot of people in employment."
That statement doesn't seem to bode well for CSI and, of course, Portsmouth FC given its reliance on funding from Antonov, who could be sentenced to ten years in prison IF he is found guilty.
So, it looks like there may be another rollercoaster ride to decide the club's future on the horizon. I hope you've all buckled up and are prepared for it!