Davor Macura, a Serbian businessman described as close to the ruling Serbian Progressive Party (SNS) and owner of Alta Bank, was detained on Monday morning, according to a report by Serbian outlet Nova.rs.
The bank, which was declared bankrupt after losing its operating license, had been searched by police for more than 30 hours, with operations beginning on Saturday.
The National Bank of Serbia’s Executive Board revoked Alta Bank’s license early Saturday morning and initiated bankruptcy proceedings.
The searches were part of an investigation into the bank’s operations and suspected financial irregularities. Serbia’s Organized Crime Prosecutor’s Office has separately announced the arrest of three people in connection with the case, including individuals responsible for the bank’s treasury operations.
Meanwhile, the Belgrade Stock Exchange announced on Monday that it had temporarily suspended Alta Bank’s access rights to its trading system.
Macura’s reported detention comes amid an expanding investigation into the bank’s financial position, the handling of cash held in its vaults and possible transfers of funds abroad.
