The investigation was organized by the Kaunas District Prosecutor’s Office
The director of the energy company will be tried for criminal bankruptcy and fraudulent financial accounting. A person who allegedly mismanaged the company led to its bankruptcy and made more than $13 million. EUR damage to creditors. The pre-trial investigation was conducted by the officers of the Financial Crimes Investigation Service (FNTT), the investigation was organized by the Kaunas District Prosecutor’s Office. During the pre-trial investigation, sufficient data was collected, allowing us to suspect that the company’s director could have systematically and intentionally fraudulently managed the company’s financial accounting since 2019, in order to hide the company’s problems – insolvency.
The head of the company provided the possibly forged documents
It is suspected that the director falsified various offsetting acts, agreements, contracts, and accounts with other companies about economic operations that allegedly took place, trying to hide the real situation of the company and create the impression that the company’s activities are successful. The head of the company provided the possibly forged documents to the person who managed the financial accounting, thus the fake documents were included in the company’s accounting and declared in the mandatory registers.
Based on the collected data
Based on the collected data, the director, knowing that the company’s obligations already in 2019 exceeded the company’s assets, and from 2020 the company became insolvent, continued to possibly deliberately mismanage the company – entered into economically useless, loss-making transactions and made decisions that harmed the company, sold the company’s assets to third parties at a price much lower than the cost price, etc. Thus, the rights and legitimate interests of the company’s creditors were violated. The director of the company, possibly deliberately mismanaging the company, could lead to its bankruptcy and cause significant damage to creditors, amounting to more than 13 million. euros.
Creditors include natural and legal persons
Creditors include natural and legal persons, law firms and state institutions, such as the State Tax Inspectorate, Sodra, etc. During the preliminary investigation, the accused did not admit his guilt. He was remanded in custody – a written promise not to leave, as well as a temporary restriction of property rights on his bank accounts. The prosecutor of the 2nd Criminal Prosecution Department of the Kaunas District Prosecutor’s Office, who organized the pre-trial investigation, drew up the indictment and submitted the case to the court.
The court can impose the harshest punishment
The court can impose the harshest punishment for fraudulent financial accounting – imprisonment of up to four years. For criminal bankruptcy, when a person knowingly mismanages a company and caused its bankruptcy and as a result caused significant material damage to one or more creditors, the harshest possible punishment is imprisonment for up to three years.