Croatian tycoon loses UK extradition fight
October 25, 2018
A London court on Thursday rejected an appeal filed by lawyers of Ivica Todoric, the Croatian-born tycoon and founder of the troubled Agrokor company, clearing the final legal hurdle for Todoric's extradition to his native country.
Todoric is wanted by Croatia on charges of massive fraud and corruption while at Agrokor. The food and retail empire employees around 60,000 people and accounts for around 15 percent of Croatia's GDP.
The 67-year businessman claims that charges against him are politically motivated.
"Whilst I am very disappointed by today's ruling, it will not stop me from exposing rampant corruption at the very top of the Croatian government and holding those involved accountable," Todoric said on Thursday.
"I will re-double my efforts to shine a light on a conspiracy that has no place in the modern democratic Croatia," he added.
Billions in debt
Todoric fled to the United Kingdom last year after the Croatian government launched a long-awaited crackdown on Agrokor's top managers, including two of Todoric's sons.
Zagreb issued a European arrest warrant for Todoric, with prosecutors claiming fraud and corruption offences relating to around €110 million.
A British judge ordered the businessman's extradition as early as April this year, but Todoric's legal team asked for a permission to appeal the decision. The motion was eventually rejected on Thursday.
The Croatian government was forced to pass a special law to prevent Agrokor's bankruptcy earlier this year after its debt hit $8.9 billion (€7.8 billion). The company is currently administrated by the state.
'Not a shred of evidence'
Addressing the reporters after the ruling, Todoric said his trip to London was a mere "business move," adding there was a "not a shred of evidence I ever took money out of Agrokor."
In Zagreb, Justice Minister Drazen Bosnjakovic dismissed Todoric's claims of a political process. "He will face a fair and correct trial," Bosnjakovic said.
Todoric is to be extradited to Croatia in the coming weeks.
dj/amp (AFP, AP, Reuters, Beta)