The High Court of Belgrade has granted the extradition of Bulgarian businessman Tsvetan Vasilev who is sought in connection with the insolvency of Corporate Commercial Bank (KTB).

The ruling is not final and can be appealed before the appellate court and the Serbian justice minister.

The decision was taken a month ago but the information becomes available only now.

According to media reports, Vasilev has already appealed his extradition before the appellate court.

In March 2015, the court granted his extradition to Bulgaria, but five days later the appellate court reversed the decision.

The majority shareholder of the now insolvent KTB is charged with embezzlement amounting to BGN 206 M.

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