On 23 November 2011, a Europe-wide arrest warrant was issued for Portsmouth F.C. owner,
Vladimir Antonov, by
Lithuanian prosecutors as part of an investigation into alleged asset stripping at Lithuanian bank
Bankas Snoras, which is 68% owned by Antonov and went into temporary administration the previous week. Operations in another of Antonov's banks,
Latvijas Krajbanka were suspended by
Latvian authorities on 22 November 2011 for similar reasons.
[38] Antonov was subsequently arrested at his offices in London on 24 November 2011 and has been bailed.
[39]
CSI released a statement which said "In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual." The statement added that "CSI has been solely financed through the private wealth of its owners. Snoras Bank has never provided funding for the purchase of a CSI organisation, nor has it lent any money to these businesses after they have been acquired."
[40] However, Lithuanian prosecutors added that they would be taking "all the necessary steps" to freeze assets belonging to Mr Antonov and his business partner.
[39]
On 29 November 2011 Vladimir Antonov resigned as chairman of Portsmouth after parent company Convers Sports Initiatives entered administration.
[41]