Portsmouth FC: Vladimir Antonov loses extradition fight

London-based Vladimir Antonov bought Portsmouth Football Club in June 2011

Former Portsmouth FC owner Vladimir Antonov has lost a legal battle to avoid extradition to Lithuania.

Banker Vladimir Antonov and his business partner Raimondas Baranauskas are accused of asset stripping at Lithuanian bank Snoras.

The businessmen said they were being used as "scapegoats" following the nationalisation of the bank.

Their challenge was dismissed by two High Court judges, who said there was no evidence to support their claims.

They face charges in Lithuania of stripping 470m euros (£396m) and $10m (£6m) of assets and funds from the bank.

Lithuanian authorities issued a European arrest warrant for the pair in November 2011 after naming them as the main suspects in a pre-trial investigation.

London-based Mr Antonov bought Portsmouth FC in June 2011.

He was forced to stand down as chairman in November of the same year when his company Convers Sports Initiatives (CSI) went into administration.