KAUNAS, Lithuania – Vilhelmas Germanas, a businessman implicated in a large-scale financial crime investigation, was released from Kaunas Prison on Monday after an appeals court rejected a prosecution attempt to extend his detention, according to reports from Lithuanian news outlets.
Germanas walked free after serving 16 months in pre-trial detention. The release follows a decision by the Vilnius Court of Appeal to uphold a lower court’s ruling against extending his arrest. He is now subject to intensive supervision, including the application of an electronic monitoring device, and has posted a €1 million bail, as reported by VE.lt and TV3.lt.
“The police officers now have to take me to Vilnius, where an intensive supervision device will be attached. And later – in any case, I will comment on that. There was no need to shiver and wait,” Germanas told reporters immediately after his release, as cited by VE.lt. He indicated he would provide a more detailed account of the case at a press conference with his legal team.
“I will comment on everything in detail, there will be an adequate press conference, during which, together with the lawyers, we will answer all questions in detail. You will definitely find out what will be relevant,” Germanas added.
The investigation, led by the Financial Crime Investigation Service (FNTT), initially centered on allegations of money laundering and corruption linked to the company “Foxpay.” Authorities had previously alleged that over €17 million may have been laundered and that bribes totaling €100,000 were paid, according to reports. However, Germanas’s lawyer, G. Danėlius, stated that the charges have been narrowed to a single episode, and that his client has been actively cooperating with law enforcement.
“He has given explanations many times, probably a dozen or so interrogations. Since last year, for about a year, he has been cooperating constructively, so we do not quite understand why this measure of restraint was applied for so long,” Danėlius told 15min.
The prosecution had appealed the Vilnius Regional Court’s decision to lift the pre-trial detention, but the Court of Appeal dismissed the appeal, according to Kauno Diena. Germanas remains under investigation.
