ZAGREB (Croatia), November 15 (SeeNews) – The Zagreb County Court has imposed a 7.5 million ($1.1 million/1 million euro) kuna bail to the founder of ailing concern Agrokor, Ivica Todoric, who is in detention on charges of misapropriation of funds, local media reported on Thursday.
"The Extraordinary Judicial Council has changed the decision of the first instance court in the part related to the bail. The Extraordinary Judicial Council also considers that the bail may, with appropriate precautions, play the same role as the custody," Croatian news agency Hina quoted Kresimir Devcic, spokesperson of the Zagreb County Court, as saying.
Under the terms of the bail, Todoric will be barred from leaving Zagreb and having a passport, Devcic added.
Todoric, along with his sons Ivan and Ante, and 12 managers and auditors of Agrokor, are suspected of diverting about 1 billion kuna from Agrokor. Todoric has denied the charges.
Earlier this month, the UK authorities extradited Todoric to Croatia to face embezzlement charges on alleged mismanagement of funds and counterfeiting of official or business documents.
The owner of Agrokor was detained in London in November 2017 on a European arrest warrant.
(1 euro = 7.42171 kuna)