Serbia detains Alta Bank owner Davor Macura after bank used by Russian emigrants loses license
Davor Macura, the owner of Alta Bank and a businessman with close ties to the Serbian Progressive Party, has been detained in Serbia, the local news outlet Nova.rs reported. At the time of the report, there had been no official announcement of his detention.
Serbia detained Alta Bank's owner, Davor Macura, and two other employees at the bank's premises following a 30-hour police search. Macura, a businessman with ties to the Serbian Progressive Party, is accused of embezzling 45 billion dinars (approximately $430 million) from the bank. Sources reported that Macura attempted to leave Serbia twice recently, but was denied entry to Montenegro and Moscow.
Alta Bank, one of Serbia's largest banks, lost its license on October 30 due to concerns over the stability of the financial system. The National Bank of Serbia suspended customers' accounts and announced it would reimburse up to 50,000 euros for lost deposits once bankruptcy proceedings start. The investigation into potential fund transfers abroad from Alta Bank is ongoing by Serbia's organized crime prosecutor's office.
The bank's closure occurred shortly after Serbia's early parliamentary election on October 25, during which the ruling Serbian Progressive Party, led by former President Aleksandar Vučić, lost the election.
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