Tycoon Karic Throws Weight Behind Vucic's Presidential Bid

Media and telecoms tycoon Bogoljub Karic has joined the campaign supporting the presidential bid of Aleksandar Vucic, Serbia's Prime Minister and head of the ruling Progressive Party.

"Serbia has it's own Putin, and it is Aleksandar Vucic! Thanks to our winner, we have all doors open, from Washington to Beijing and Moscow," Karic told a rally on March 11 staged by the Progressive Party in the western town of Cacak.

Karic returned to Serbia from Russia in December 2016 after years of self-imposed exile, as the fraud investigation against him was halted a few days earlier.

A former media and telecommunications mogul, Karic fled the country in 2006 when prosecutors started to investigate allegedly fraudulent activities connected to his company, Mobtel.

The investigation into Karic was originally launched over suspicions that in 1994, while setting up his mobile operator Mobtel, he reported fake investments in the company through which he benefited to the tune of $21 million.

According to new findings however, Karic incurred additional costs that accounted for the outstanding amount.

Vucic was reportedly annoyed that the case against Karic was being dropped. The Belgrade newspaper Blic described a "storm in the government building" after the Minister of Justice, Nela Kuburovic, and Prime Minister Vucic met to discuss this issue.

"Vucic raised his voice to Kuburovic in dissatisfaction with the Karic case, asking the Minister to explain how Karic could be free man now," wrote Blic.

"Is it possible that there is no evidence?" Vucic asked, according to Blic.

Minister Kuburovic reportedly defended herself, arguing that she could not influence the prosecutor's decisions.

Years ago, before...