Bank of Lithuania limits some of Foxpay’s operations
According to the VSD, one of such people from Trinkūnaitė’s environment is businessman Vilius Kavaliauskas, who is linked to the company Noewe (previously known as Lewben). The firm is thought to have cooperated with sanctioned Belarusian oligarchs.
A governmental commission earlier found that Foxpay owner does not meet the requirements of the Law on the Protection of Objects of Importance to Ensuring National Security.
News website delfi.lt reported Thursday that the Bank of Lithuania had informed the governmental commission about Foxpay’s potential violations of legislation regulating electronic money institutions, money laundering and terrorist prevention and data security.
It has transpired that the Government barred Trinkūnaitė from voting at Foxpay shareholder meetings and she cannot exercise the shareholder’s non-monetary rights. The decision was made taking into account her close ties to Vilhelmas Germanas, her partner, which cause a risk for the company operating in the financial and credit sector of strategic importance.
The decision was adopted unanimously at the Government’s Commission for Coordination of Protection of Objects of Importance to Ensuring National Security.
The Bank of Lithuania was informed about this and is carrying out an inspection of Foxpay. The Special Investigation Service (STT) has opened a probe into the company’s activities.
The Bank of Lithuania on Thursday confirmed to ELTA that it has restricted some of Foxpay’s operations related to the right to submit payment orders and receive payments through the CENTROLink system.
The central bank stated that the restrictions were partial and did not apply to payments related to the public sector or public interests.
The central bank added that Foxpay has not been completely cut off from the CENTROLink system.
As reported earlier, a governmental commission had prevented Foxpay from acquiring LITLAB. Foxpay’s owner is Ieva Trinkūnaitė, the sister-in-law’s sister to Monika Navickienė, former minister of social security and labour. LITLAB’s main shareholder is Mindaugas Navickas, the former minister’s husband, whereas Navickienė was a shareholder in 2012-2016.
Real estate developer Eika is completing the construction of a business centre in the territory of Vilnius Airport for the company LITLAB.
According to media reports, Navickas joined the Board of Foxpay in 2022 and was its CEO from late 2023 until early 2024. He stepped down from the Board when the Bank of Lithuania launched an inspection.
News website 15min.lt reported that Trinkūnaitė’s partner Vilhelmas Germanas, who had been convicted of fraud, briefly worked at LITLAB as well. In addition, both Germanas and Navickas worked at iSun, a company group founded by Trinkūnaitė. Navickas had also managed other enterprises linked to Trinkūnaitė and Germanas.
15min.lt later reported that in 2023 then Minister Navickienė travelled to Dubai in a private jet together with Trinkūnaitė and her partner Germanas. Navickienė stepped down as minister once this information was published.
The trip to Dubai coincided with Swiss Wealth Management, one of Trinkūnaitė’s companies, selling Baltic Meat Industry to two residents of Israel and Dubai in February 2023.