Baltic fund manager suspected of misappropriating $29 million detained in Lithuania

Stepukonis, a former partner of the 80 million euro BaltCap Infrastructure Fund at Estonian-registered BaltCap, was arrested on Saturday in Lithuania, said a spokesperson for European Public Prosecutor's Office (EPPO) that requested his arrest. Companies owned by BaltCap, the Baltics' largest private equity fund manager, had asked a Vilnius court to order Stepukonis and two casinos to return 16.7 million euros ($18 million) allegedly misappropriated by him.