Dinamo boss refused bail

The chief executive of the Dinamo Football Club, Zdravko Mamic, was refused bail on Friday, a Zagreb County Court investigating judge ruled.

Judge Erna Drazancic sustained the objection by prosecutors from the USKOK national anti-corruption office that two houses owned by Mamic's friends were not adequate security for his release on bail.

On Thursday, the judge granted bail for Zdravko Mamic's son Mario but delayed her decision on Zdravko Mamic until Friday to hear an expert opinion. USKOK has appealed the bail ruling for Mario Mamic.

A panel of non-trial judges decided on Tuesday that Zdravko Mamic can be released on bail of 14 million kuna and upheld 5 million kuna bail granted to his son.

Zdravko and Mario Mamic, businessmen Sandro Stipancic and Igor Kroto, and Croatian Football Federation executive director Damir Vrbanovic are suspected of having siphoned more than 10 million euros and 500,000 pounds sterling from Dinamo through off-shore companies since 2004. USKOK alleges that Mario Mamic, Stipancic and Kroto were in charge of those operations.

USKOK claims that the suspects made fictitious agreements and contracts between Dinamo and companies from Switzerland, Great Britain and Hong Kong on the takeover of Dinamo's fictitious debts to players and on fictitious brokering services in player transfers, which were signed on Dinamo's behalf by Zdravko Mamic and Vrbanovic.

Stipancic and Kroto have been set bail of 4 million kuna and 2 million kuna respectively, while Vrbanovic, was released from custody immediately after the investigation was launched.

Last update: Thu, 24/12/2015 - 00:30

More from Croatia

Adris Group's Jan-Sept net profit HRK 570 mln

In the first nine months of 2016 the Adris Group generated a net profit of HRK 570 million while its total revenue...

Podravka Group posts net profit of HRK 142.2 mn

The Podravka food and pharmaceuticals group generated a net profit of HRK 142.2 million in the first nine months of...

Stier announces PM's visit Bosnia and Herzegovina

Because Bosnia and Herzegovina's European path is a priority in Croatia's foreign policy, Croatian Prime Minister...

HUB: Croatians' financial assets rapidly growing

Croatians are frugal and their financial assets are growing rapidly even though interest rates are at a historic low...

IKEA Croatia increases turnover by 5.8%

IKEA Croatia has generated HRK 567.7 million (without Value Added Tax) in turnover or 72.4 million euro in the 2016 ...