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HomeLithuaniaLithuanian fintech co Foxpay's owner contests national security non-compliance decision

Lithuanian fintech co Foxpay’s owner contests national security non-compliance decision

Ieva Trinkunaite, the owner of Foxpay, a Lithuanian fintech company under the scrutiny of law enforcement and supervisory authorities, has contested in court the government’s conclusion that she does not meet national security interests.

The Vilnius Chamber of the Regional Administrative Court confirmed to BNS that it received Trinkunaite’s appeal on Monday.

According to the court’s spokeswoman, Trinkunaite seeks the annulment of the Cabinet’s resolution of June 5 and the May 16 conclusion of the governmental commission vetting strategic companies’ transactions.

She requested that the case be heard in a closed court session and that the material be classified as non-public.

Trinkunaite informed the public on Monday that she is asking the court to annul the decisions of the government commission and the government.

“I do not believe that my personal or business activities are non-compliant with national security interests,” she said in a statement.

“I am convinced that the circumstances stated in the government’s resolution do not constitute either factual or legal grounds to conclude that I pose any threat to national security.”

Trinkunaite said last week that she disagreed with the commission’s findings that she fails to cooperate properly with the Bank of Lithuania during its unplanned inspections of Foxpay, and that Vilhelmas Germanas, her partner who has been in the past convicted of financial crimes, exerts influence on her.

The Bank of Lithuania allowed Trinkunaite to acquire Foxpay in 2022 following reviews by various authorities.

However, the governmental commission ruled in May that the businesswoman does not meet national security interests. The Cabinet announced the same conclusion on June 5.

According to the commission, Trinkunaite’s ties with Germanas were not known to the authorities when she purchased Foxpay in 2022.

In June, Monika Navickiene resigned as Lithuania’s social security and labor minister   because of her links with Trinkunaite.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)


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