Croatian businessmen will fight extradition bid
One of Croatia’s richest men is to battle extradition to his own country for an alleged fraud totalling nearly £100m (110m Euros).
Ivica Todoric, 66, described as one of Europe’s ‘most wanted’ fugitives, was arrested by the Metropolitan Police’s Extradition Unit earlier today.
Todoric denies accusations of fraud and corruption in his native Croatia, where he founded its biggest private company, Agrokor.
A European arrest warrant was issued by the Croatian authorities who raided his home in his native homeland in October.
The former chairman’s top aides are also being investigated about the companies financial collapse.
Their homes were also searched too.
In total 14 people are being investigated.
Croatian prosecutors say Todoric is suspected of ‘criminal acts against the economy and fraud’ related to the crisis at the food giant.
The company employed more than 60,000 employees.
Agrokor was taken into state administration in April this year under a specially-passed law.
It had amassed debts to creditors of approximately 3.5billion Euros to creditors and 2.2billion Euros to suppliers.
The company is the largest retailer in the Balkans region.
Todoric denies wrongdoing and has previously written on his blog that his conscience is clear.
‘I’m not hiding and my conscience is pure,’ he wrote.
‘But as a man who has had his human rights violated I am within my full rights to oppose political persecution.
‘And to not have to accept pre-constructed guilt.
‘My lawyers are in constant contact with the authorities and competent institutions who’ve been aware of my address.
‘Even before any investigation was initiated against me.’
Silver-haired Todoric appeared at Westminster magistrates’ court today (tues) wearing a dark blue suit wearing a light blue shirt without a tie.
He gave an address in Kensington and, when asked if he consented to his extradition to Croatia, he said: ‘No’.
District Judge Richard Blake said: ‘I formally open proceedings.’
The court heard that he faces charges three charges relating to fraud.
The first charge relates to false accounting in that he ‘concealed debts, expenses and financial claims.’
The second charge he could face is fraud by false representation in the sum of 101m Euros.
The third charge alleges abuse of his position as president which gained him allegedly 8.6m Euros.
Todoric’s lawyer, Timothy Otty, applied for bail with a security of £100,000.
He told the judge that there are no grounds that he would not surrender to the court and he would not interfere with proceedings.
Benjamin Sceifert, for the Croatian authorities, asked that he be remanded in custody.
‘This is extremely serious offences,’ he said. ‘On that basis I would invite the court to refuse bail’.
He said that in the context of the fraud the sum of £100,000 is relatively minor as he ‘clearly has access to funds.’
District Judge Richard Blake granted the bail application and told Todoric: ‘I am going to grant you bail.
‘These are very serious allegations – they are allegations.
‘You are a man of good character and substantial means.
‘The context in which I grant you bail is that you assets are frozen and your ability to obtain money is limited.
‘I do ask for the security of £100,000 – that is a significant sum in my view.
‘I ask that you passport and identity cards is surrendered.
‘You are not to apply for any travel documents.
‘You are not to leave England and Wales – you are not to leave England and Wales.’
Todoric must also report to Kensington police station three times a week and wear an electronic tag.
He will be back in court on 2 March for a case management hearing before a three-day extradition hearing later in the year.
ends
