S.Africa court grants bail to Czech fugitive

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JOHANNESBURG, July 6 (Reuters) - A South African court on Friday released on bail Czech businessman Radovan Krejcir, rejecting state arguments that there was a risk he could flee.

Judge Steven Holzen set bail at one million rand ($143,000) and ordered him back to court on Aug. 8 to continue his extradition hearing.

Krejcir, 38, has been in South African police custody since April following his arrest at Johannesburg airport on an Interpol "red notice", which allows for arrest and possible extradition.

He is wanted in the Czech Republic on charges of murder, fraud, illegal arms possession and tax evasion, according to Czech police.

Holzen said considering the length of time it might take to finalise the extradition -- up to three years -- it would not serve the interest of justice to keep Krejcir in detention.

The state had argued that Krejcir was a flight risk because of the seriousness of the charges against him.

It also said he had entered South Africa illegally, with a fake document under a false name, and that he had no emotional attachment or financial assets to keep him in South Africa.

But the judge rejected the arguments as insufficient, saying he found it strange that the charges against Krejcir were so old, some going back to 1994 when he was still residing in the Czech Republic, but he was never arrested.

He said Krejcir was legitimately issued a Seychelles passport, even if it was under a different name, and that Krejcir had made considerable investment in South Africa, buying a business and some properties and expressing a wish to move his wife and son to the country permanently.

A relieved Krejcir smiled, hugged and kissed his son and mother who were in court.

"I feel very nice," said Krejcir "Now, I will go pay the bail and go get some rest," he said.

Keywords: SAFRICA CZECH/FUGITIVE