Serbia Court Determined to Rule on Extradition of Owner of Bulgaria's Collapsed KTB

The Belgrade High Court has said it is to pursue with a decision on a pending extradition request from the Bulgarian government for businessman Tsvetan Vasilev, regardless of the latter's application for asylum.

Court officials have told the Bulgarian National Television they have gathered all the evidence needed to make the ruling, and no further interrogations of Vasilev will be needed.

There is no deadline for the court to adopt a ruling, while the deadline for Bulgarian prosecuting authorities to file an indictment against Vasilev and hand it to him personally expires in July.

Vasilev, the majority shareholder of collapsed Corporate Commercial Bank (Corpbank or KTB), is sought by Bulgaria where he would hace charges of embezzling BGN 206 M from his own bank.

The businessman has repeatedly denied any wrongdoing, saying that the 2014 collapse of KTB, Bulgaria’s fourth-largest lender, had been a premeditated attack launched by a Bulgarian business partner-turned-rival and supported by state institutions.

On Wednesday, during his last hearing at the Belgrade High Court, Vasilev did not deny reports that he had applied for asylum.

Regardless of the court's final decision, and after a possible appeal, it is Serbia's Justice Minister who has the last say on extradition cases.

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