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Arrest warrant issued for former Symbol CEO

Arrest warrant issued for former Symbol CEO

The US Attorney's office has issued an arrest warrant for the former chief executive officer of WLAN (wireless LAN) vendor Symbol Technologies, who is believed to have fled the country following fraud charges leveled last week against him and seven other former Symbol executives.

The Interpol arrest warrant was issued against Tomo Razmilovic after his lawyer contacted the office of US Attorney Roslynn Mauskopf and indicated that Razmilovic would not appear for a scheduled arraignment on Thursday, a spokesperson for the US Attorney, Robert Nardoza, said.

The eight executives are accused of engaging in a variety of fraudulent practices that inflated the New York, company's earnings by more than $US200 million between 1999 and 2002.

"We consider him a fugitive," Nardoza said. "We do not expect he's going to show, based on what his lawyer told us."

Razmilovic is thought to have fled to his native Croatia, according to an Associated Press report.

Charges have not been filed against Symbol itself or its current management team, but the company has signed agreements with the US Attorney's office and the US Securities and Exchange Commission to pay $US139 million in compensation to shareholders who lost money because of the fraud.


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