Runaway Croatian businessman accused of siphoning HRK 120 mn from Diona

Ex-Croatian businessman Miroslav Kutle, who fled to Bosnia and Herzegovina after being convicted of white-collar crime in Croatia, is once again a target of the Prosecutor's Office which in the latest case charged him with siphoning more than HRK 120 million from his former company Diona through fictitious contracts.

Given that Kutle, who is now 59, had been siphoning money during the 1990s Homeland War and the peaceful reintegration of the Croatian Danube River Region, the Zagreb County Prosecutor's Office is also charging him with war profiteering and privatisation-related crimes, alongside financial wrongdoing.

Kutle is accused of having transferred money from Diona to 23 companies tied to his holding management company and other companies. Kutle was Diona's shareholders assembly chairman and after 1995 he chaired the company's supervisory committee, the prosecutor said.

He covered up the extraction of money with fictitious contracts. Kutle has not to date returned the money to Diona.

He is charged in Croatia in several white collar crime cases. Interpol issued a warrant for his arrest in 2010.

Last update: Thu, 14/04/2016 - 18:47

More from Croatia

Defence ministry's 2017 procurement outlays to reach EUR 226 mln

The Defence Ministry presented its procurement plan for 2017 worth HRK 1.7 billion of which HRK 470 million will be...

Croatia to decide on its own whether to join sanctions against Dodik

Croatia will decide on its own whether to join in the US sanctions against Republika Srpska President Milorad Dodik...

Erjavec insists on possible incidents if Croatia rejects border arbitration ruling

Slovenia-Croatia relations might be additionally strained over a ruling to be made by an international border...

EC recommends Croatia's gradual integration into Schengen Information System

The European Commission on Wednesday made a recommendation to the Council of the European Union to gradually...

Plenkovic: It's important for Croatia to postion itself in changed global circumstances

It is important how Croatia will position itself in 2017 against a background of the changed global circumstances,...