Lithuanian Post director detained for corruption

  • 2010-04-01
  • Oskars Magone

The head of Lithuanian Post stands accused of graft committed while he held a previous position with a major bank in the region.

VILNIUS -- The director of the beleagured Lietuvos Pastas (Lithuanian Post) has been arrested for fraud. The charges are not in connection with his position at the postal company.

Andrius Urbonas was arrested Tuesday evening and sacked from his job on Wednesday.

Urbonas is accussed of having previously used his high position and connections in banking institutions to make loans to clients whose applications for loans were previously rejected. Authorities claim that he laundered money through the scheme. He denies the charges.

Urbonas previously worked as a CEO of Hanza Lizingas in the Swedbank group. The charges stem from his time at the bank.

Urbonas has headed Lietuvos Pastas since last October. He took the office after the resignation of Ernestas Vaidelis.

He will be held 14 days for questioning.