Court extends asset freeze in case linked to V. Germanas

A Vilnius district court has extended the temporary restriction on assets belonging to UAB "Exawatt," a company associated with businessman V. Germanas, for an additional six months. The frozen assets encompass monetary funds, shipping containers, and cryptocurrency mining equipment, underscoring the scale of the financial investigation.

The court's decision stems from the ongoing criminal proceedings where grounds for applying these coercive measures have not yet disappeared. These measures are intended to facilitate potential asset confiscation and to secure compensation for damages related to a civil lawsuit filed in the case. The court found that the possibility of property confiscation and the satisfaction of a civil claim remain relevant.

The "Foxpay" case, which began its first hearing on July 15, involves allegations of large-scale fraud and document forgery. Individuals are accused of illegally acquiring substantial foreign assets while operating within an organized group. Prosecutors suggest that V. Germanas and Mindaugas Navickas, the husband of former Social Security and Labor Minister Monika Navickienė, led this organized group.

Evidence indicates that the accused acquired cryptocurrency mining equipment, with some units being moved out of Lithuania. To conceal this, the group allegedly misled the equipment supplier, faking a product return to illegally obtain funds. Charges have also been brought against Alfonsas Ambrazas and Andrius Razma. V. Germanas faces additional charges for possessing forged identity documents from Greece, Portugal, and Bulgaria.

To secure a civil claim exceeding 7 million Euros, assets have been seized. V. Germanas was released on a 1 million Euro bail with an electronic monitoring bracelet, while M. Navickas posted a 100,000 Euro bail and is prohibited from leaving the country. Other defendants have also been issued written pledges not to leave their locations. V. Germanas has previously denied the accusations, asserting his business practices were standard and that he lacked the means to misappropriate the assets.