Federal authorities have launched a manhunt for the former chief executive of Long Island’s Symbol Technologies, who may have fled the country to avoid facing securities fraud charges.
The executive, Tomo Razmilovic, was indicted last week for his role in a massive securities fraud at the company. He had been scheduled to be arraigned today at the federal courthouse in Central Islip, and was expected to return from London, where he has an apartment, to plead not guilty.
Razmilovic’s lawyer, David Nachman, told federal prosecutors yesterday morning that his client would not appear at the hearing. He didn’t return a call seeking comment.
Authorities, who believe Razmilovic has fled to his native Croatia from London, issued a warrant for his arrest and notified Interpol, the international police force, a source told The Post.
Razmilovic, 62, will be considered a fugitive should he fail to make his 2 p.m. court appearance today, said Robert Nardoza, a spokesman for the U.S. Attorney’s Office for the Eastern District of New York.
If convicted of securities fraud, Razmilovic and other former top executives face multimillion-dollar fines and jail terms of up to 20 years for the most serious charges.
Razmilovic and six other former executives of the Long Island technology company were charged last week with using “every trick in the very long book of fraud” to steal more than $200 million from investors, according to a federal indictment by U.S. Attorney Roslynn Mauskopf.
The document, unsealed in Brooklyn, accused Razmilovic; his chief financial officer, Kenneth Jaeggi; and other top-level executives of devising elaborate schemes to meet profit projections and line their own pockets.
An eighth defendant, former General Counsel Leonard Goldner, was accused of exploiting the company’s stock option plan to enrich himself and other executives.
Goldner pleaded not guilty on Tuesday at his arraignment and was released on $500,000 bail. The other executives also have pleaded not guilty.
Symbol, based in Holtsville, has agreed to pay $139 million in fines and restitution, including $37 million to the Securities and Exchange Commission.
The company is a leading producer of bar code scanners and wireless networks. Its customer list includes Wal-Mart, the Departments of Defense and Homeland Security and the U.S. Postal Service.
Razmilovic worked his way through the executive ranks to become Symbol’s president and chief executive in February 2000.
He resigned from the top spot after just two years at the helm.
Razmilovic, a Swedish citizen since 1971, studied engineering and management in Croatia before joining Symbol in 1989.