Serbia’s Supreme Court to Sit on Tsvetan Vasilev’s Extradition Request on March 16

The Supreme Court of Serbia postponed its sitting on the request for the extradition of the Bulgarian businessman and majority owner of insolvent Corporate Commercial Bank (KTB), Tsvetan Vasilev to March 16.

Vasilev was expected to appear before the court in Belgrade on Wednesday in connection with the request of the Bulgarian prosecutor’s office for his extradition.

The sitting was postponed after the defendant did not appear in court. His Serbian lawyer presented a sick note stating that Vasilev has a flu and can not appear in court.

The businessman is accused of running KTB as a pyramid scheme and siphoning off BGN 206 M from the bank.

The Supreme Court has to interrogate Vasilev and establish whether there are political motives for his extradition. The court will sit at closed doors.

In the beginning of March last year, the Supreme Court of Serbia ordered the extradition, but the Appellate Court revoked the decision and returned the case to the court of first instance.

According to the Appellate Court, the procedure on the extradition had not been observed as Tsvetanov had not been subject to a hearing.

Regardless of the rulings of the Supreme Court and the Appellate Court, the Serbian Justice Minister will have the final say on the extradition request.

The two-year period in which the prosecutor’s office can submit the charges against Vasilev in court expires at the end of July. After that deadline the lawsuit will have to be terminated.