Antonov, who was detained by Russian authorities in April after fleeing extradition to Lithuania from the UK, "has fully confessed and entered a plea bargain," an investigator announced during a court session in St. Petersburg.
The court nevertheless rejected the defendant's plea for release from custody to be placed under house arrest.
Antonov has been charged in Russia with misappropriating 15 million rubles (2 million euros) from Sovetsky bank together with several other bank's executives. According to reports he has admitted to misappropriating around one tenth of this figure.
He is suspected of using the bank to issue a large loan to a company under his control, shortly before the bank went bust - a modus operandi that is also suspected to have been applied in the case of the Snoras/Krajbanka collapse.
Latvijas Krajbanka went bust in 2011 after it turned out that huge amounts of money were missing from the bank.
Lithuanian law enforcement officials launched a pre-trial investigation into suspected misappropriation of Snoras' assets, fraudulent accounting, document forgery and money laundering.
They have brought formal suspicions of abuse of office, misappropriation and squandering of assets, criminal bankruptcy, fraudulent accounting and document forgery against Antonov and Snoras' former CEO Raimondas Baranauskas.
British courts ruled in 2015 to extradite Antonov and Baranauskas, who then lived in London, to Lithuania to face charges, but the men were able to flee the UK to Russia.
Antonov has also been linked as an owner or partial owner with various other businesses including Portsmouth Football Club in the UK and Spyker cars of the Netherlands. Like his banking interests, these investments rarely see to end well for the companies concerned.
