Serbian prosecutors have arrested Alta Banka's owner, Davor Matzura, and two employees on suspicion of embezzling 45 billion dinars (about $429 million), writes Frank Media. According to the investigators, the manager exceeded his authority and removed money from the safe. Earlier, on October 30, the regulator revoked the bank's license. According to the Financial Times, the credit institution was one of the most popular among Russians in Serbia, allowing them to open personal and business accounts.

Serbian prosecutors have arrested Alta Banka's owner, Davor Matzura, and two employees on suspicion of embezzling 45 billion dinars (about $429 million), writes Frank Media. According to the investigators, the manager exceeded his authority and removed money from the safe. Earlier, on October 30, the regulator revoked the bank's license. According to the Financial Times, the credit institution was one of the most popular among Russians in Serbia, allowing them to open personal and business accounts.