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Baltic Fund Manager Suspected of Misappropriation
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Former partner of BaltCap Infrastructure Fund, suspected of misappropriating $29 million, detained in Lithuania. The fund manager had invested in infrastructure projects in the Baltic countries and requested the court to order the return of 16.7 million euros. Lithuania-registered Casino Olympic Group Baltija and Estonia-registered OB Holdings 1, gambling operators named in the lawsuit, have not responded to requests for comment.
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How might this incident impact investor confidence in the Baltic fund management sector?
What implications does this have for the broader financial landscape in the Baltic countries?
What measures can be taken to prevent such misappropriations in the future?
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