MANHATTAN (CN) - Fugitive Croatian businessman Tomo Razmilovic and the New York company he once ran, Symbol Technologies, were ordered Thursday to disgorge more than $158 million, but it's not likely anyone will see the money soon.
Razmilovic, 72, ran Long Island-based Symbol Technologies until 2002, during an SEC investigation of accounting fraud, which brought the company down. A federal warrant for his arrested was issued in 2004.
In a Nov. 6 corrected final judgment as to defendant Tomo Razmilovic, federal prosecutors demand $89,891,389 from him, within 10 days. This case is captioned Securities and Exchange Commission v Symbol Technologies, et al.
Razmilovic is hiding out in Sweden, which will not extradite white-collar criminals to countries that are not members of the European Union.
In a second order, also signed Thursday, U.S. District Judge Sandra Feuerstein ordered Razmilovic to pay $41,753,623 in disgorgement, plus $27,260,954 in prejudgment interest.
Symbol never recovered from the massive book juggling. It was acquired by Motorola for $3.9 billion in 2007.
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