BELGRADE, Serbia (AP) — A Serbian court has set bail at 12 million euros ($15.8 million) bail for Serbia's richest man who is facing a trial on charges of embezzlement and tax evasion.
The Organized Crime Court said Friday that Miroslav Miskovic would be released from detention once he deposits the money. Miskovic was detained in December and later indicted for allegedly siphoning millions from a road construction company and not paying taxes. He faces up to 10 years in prison.
Miskovic owns Delta Holding, which has retail, real estate, insurance and agriculture businesses in Serbia and the wider Balkans. He has long been one of the most influential people in the country. The European Union has urged Serbia to fight corruption as it seeks to join the bloc.