The founder of Agrokor, Ivica Todoric, will remain free, with strict security measures in place, until the final decision on his extradition to Croatia is reached, announced the Westminster Court judge Emma Arbuthnot.
The British Westminster Magistrates’ Court ruled on Monday that there were no obstacles for Todoric’s extradition to Croatia. His lawyers are expected to appeal the ruling in the next seven days, and the complete extradition process could be prolonged by some six months.
Three possible decisions could have been reached today: for Todoric to remain in custody, to be released with existing restrictions (reporting to the police twice a week), or for his restrictions to be increased and/or for higher bail to be set.
The court ruled that Todoric will remain free, but must report to the police every day, and cannot leave his house after 9 p.m.
These measures are somewhat stricter than the previous restrictions placed on Todoric after his release on £100,000 bail last year.
His attorneys argued that all his finances were tied up in Agrokor, and he could not afford to post higher bail.
Todoric, along with his two sons and 12 of Agrokor’s managers and inspectors, is under investigation in Croatia over the debt crisis in the food conglomerate Agrokor. He is suspected of unlawfully taking some €154 million out of the company.