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Bail set for Croatian tycoon extradited from Britain

November 15, 2018

ZAGREB, Croatia (AP) — A Croatian court has set bail at about a million euros ($1.1 million) for the founder of a deeply indebted food and retail company who was extradited from Britain this month.

The County Court in Zagreb said Thursday that Ivica Todoric also must hand in his passport to authorities and won’t be allowed to leave the capital if released on bail.

Todoric is accused in Croatia of mismanaging the Agrokor company and embezzling millions. He rejects the charges.

He was arrested in London a year ago under a European warrant. A British court rejected his appeal last month and sent him back to Croatia.

Agrokor accounts for 15 percent of Croatia’s GDP. Croatia took over the company after it collapsed under 6 billion euros ($7 billion) in debt.

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