A London court ruled on Monday that there were no legal obstacles for the extradition of Agrokor company founder Ivica Todoric, who is wanted in Croatia over investigation into business practices which led his food and retail conglomerate to the verge of bankruptcy last year.
In the explanation of her reasoning, the judge at the Westminster Magistrates’ Court said there was “insufficient evidence” for Todoric’s claim that the investigation is politically motivated, and called it a “weak argument”.
Following Monday’s decision, Todoric’s lawyers are expected to file an appeal, with experts estimating that the entire extradition process might be prolonged by appeals by three to six months.
Todoric had been arrested in November in London, on a European arrest warrant issued by Croatia, only to be set free on a £100,000 bail the same day. Under conditions of his release, he had to surrender his passport, wear an electronic tagging bracelet, ans report to the police three times per week.
Todoric and 14 other former senior managers of Agrokor are under investigation in Croatia over the debt crisis at the company which employs some 60,000 people across the region, and which has been taken over by state-appointed crisis administration in April 2017.
The investigation by the Zagreb state attorney was launched in October, with Todoric suspected of unlawfully taking 1.14 billion kuna (€154 million) out of the company. His sons Ante and Ivan, who also held posts in company’s management, are also suspects in the investigation, along with 12 other company managers and auditors.
Another decision on whether Todoric would be put into custody again will be announced later in the day.
(€1 = 7.41 kuna)
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