Former Pompey owner '˜owes collapsed bank £65m'

A Russian businessman who used to run Pompey and has been accused of financial crime owes a collapsed Latvian bank about £65 million, a High Court judge has decided.

Saturday, 28th May 2016, 8:36 am
Updated Saturday, 28th May 2016, 9:53 am
Former Portsmouth Football Club owner Vladimir Antonov

Vladimir Antonov, former owner of the League Two side, was found to have committed frauds by Mr Justice Leggatt following a High Court hearing in London.

Lawyers representing the bank - As Latvijas Krajbanka - said Antonov had been the majority shareholder of a parent company.

They claimed that he had made deals to benefit himself and left the bank with losses of about £65 million - which should be repaid.

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The judge agreed and said Antonov was ‘liable to compensate’ the bank.

His ruling was the latest in a series of findings judges have made following the launch of litigation against Antonov.

Mr Justice Leggatt said Antonov had last year left the UK after failing to supply documents when ordered by a judge and being found in contempt of court.

Antonov has also been accused of fraud in Lithuania.

A year ago he failed in a bid to block his extradition to Lithuania from the UK.