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Arrest warrant issued for former Symbol CEO

The US Attorney's office has issued an arrest warrant for the former chief executive officer of wireless Lan supplier Symbol Technologies.

Tomo Razmilovic is believed to have fled the country following fraud charges levelled against him and seven other former Symbol executives last week.

The Interpol arrest warrant was issued against Razmilovic after his lawyer contacted the office of US Attorney Roslynn Mauskopf and indicated that Razmilovic would not appear at court, said Robert Nardoza, a spokesman for the US Attorney.

The eight executives are accused of engaging in a variety of fraudulent practices that inflated the company's earnings by more than $200m between 1999 and 2002.

Razmilovic is believed to have fled to his native Croatia.

Charges have not been filed against Symbol itself or its existing management team, but the company has signed agreements with the US Attorney's office and the US Securities and Exchange Commission to pay $139m in compensation to shareholders who lost money because of the fraud.

Robert McMillan writes for IDG News Service


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