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The LBA Board, in response to the accusations made against the President of the Association, Mantas Zalatoris, his limited ability to perform the necessary functions to guarantee the activities of the LBA, and at the request of M. Zalator to temporarily suspend his functions, suspended his functions as President of the Association.
This decision was made by the LBA Board, which includes representatives from Danske Bank, Luminor, SEB, Swedbank and Šiaulių bankas, during an extraordinary board meeting convened on Thursday.
Mr. Budrys, the acting head, will ensure the necessary and continuous performance of the functions of the association and the representation of the financial sector.
Participants in the banking sector are concerned about the information made public and the accusations made against the LBA President, and emphasize that banks operate according to the highest ethical standards and transparency principles, and adhere to them in principle. .
LBA members are ready to cooperate with law enforcement authorities and provide all necessary information to answer all questions that have arisen regarding the activities of current LBA President M. Zalator.
On Tuesday, the Office of the Prosecutor General announced that Valdas Sutkus, president of the Lithuanian Business Confederation (LVK), and M. Zalatorius, head of the Lithuanian Association of Banks (LBA), had been arrested after receiving information about possible illegal activities: large-scale bribery, bribery, counterfeiting trade
According to the Attorney General Evaldas Pašilis, the available data reasonably suspect that V. Sutkus, using his current duties, social position, acquaintances, contacts or other influence, may have received illegal monetary compensation for his impact by taking various important legal acts to commercial entities.
Among those bills, in late 2019, the Lithuanian budget package for 2020, bank property and profit tax laws, and others were discussed.
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