Financial Oversight and Allegations of Fraud: Lithuanian Case Involving Aliaksandr Kozyrau

In March 2025, the Vilnius District Court in Lithuania issued a significant ruling related to corporate governance and financial activity involving Aliaksandr Kozyrau, also known as Alexander Kozyrev. The case drew attention due to its financial complexity, the scale of asset transfers, and its potential implications for anti-fraud and anti-money laundering (AML) efforts.

Kozyrau, a resident of Lithuania and citizen of Belarus, held a directorial position in a technology firm operating in the European Union. According to publicly available court documents, his role included financial oversight and full access to the company’s banking infrastructure.

Between late 2022 and early 2023, over €525,000 was moved from the company’s accounts to accounts under Kozyrau’s control or associated entities. These transactions were later challenged in civil proceedings, leading the court to invalidate the underlying share transfers and order restitution. The court found that key shareholding records had been altered improperly, and documentation presented to national registries contained inaccuracies.

The company experienced financial collapse shortly after the transfers, with employee salaries unpaid and corporate operations frozen. According to the court, Kozyrau did not have the legal authority to conduct the transactions and had bypassed necessary corporate approvals. The civil court held him personally liable for damages and ordered him to repay the full amount.

Separately, Lithuanian law enforcement opened criminal investigations under local statutes, including:

• Misappropriation of high-value assets
• Financial fraud and false accounting
• Falsification of documents
• Possible tax evasion and unreported wages

While criminal cases remain under investigation, the incident has sparked concern among compliance professionals, especially due to the risk indicators commonly associated with organized financial crime. The movement of large sums without transparent governance and the falsification of legal records raised red flags in multiple monitoring databases.

This case illustrates the importance of robust governance structures and financial transparency, especially when appointing individuals to sensitive financial roles.

Note: This article is based on public records. No criminal conviction has been issued at the time of writing. All parties retain the presumption of innocence.