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Croatia's richest businessman arrested in London over huge bankruptcy

Staff Writer |
Croatia's richest businessman was arrested Tuesday in Britain amid allegations he embezzled millions from his large retail company.

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London police said that 66-year-old Ivica Todoric, the founder of Croatia's biggest private food and retail company, Agrokor, appeared in Westminster Magistrates' Court.

Todoric was put on Europol's list of the continent's most wanted fugitives for suspected corruption, forgery of administrative documents and fraud.

Agrokor has yet to say how much it owes. Creditors include suppliers, bondholders and banks, with the biggest single portion of debt, around 1.1 billion euros (967.47 million pounds), held by Russia’s Sberbank.

Todoric's next hearing was scheduled for the next year April 10, 2018.

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