Lithuanian Prime Minister Gindautas Paluckas has announced that he will resign on Monday, as an investigation into possible financial violations involving his companies is underway.
"I informed the president about an hour ago that I have made the decision to resign as prime minister," Paluckas said in a statement.
He added that he is also resigning as head of the Social Democratic Party.
"Despite my decision to resign from my current duties, I will continue to defend my honor and dignity and await the results of the investigations, which I am sure will distinguish facts from innuendo," he said.
Earlier today, local media reported that the Lithuanian Financial Crimes Investigation Service (FNTT) had searched the offices of Dankora, a company owned by Palucka's sister-in-law. The company is suspected of using European Union money to purchase battery systems from Garnis, a company partly owned by Palucka.
Investigative journalists in Lithuania discovered in May that Garnis had received a subsidized state loan while Paluckas was already prime minister. The country's authorities then launched an investigation, which is ongoing.
Gintautas Paluckas was fined for abuse of power even when he was the head of the Vilnius municipal administration. (A2 Televizion)
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