The police in the coastal Montenegrin town of Budva took in a number of individuals for questioning after the assassination of Dragan Becirovic, CEO of Beppler & Jacobson company and owner of Bianca Hotel in Kolasin and Avala Hotel in Budva.

Interrogation is underway and the police are trying to establish the motive for the murder which happened early on Sunday.

According to the Podgorica-based daily Vijesti, an unidentified individual fired three shots at Becirovic, who was standing next to his car in front of the building in which he owns a flat.

Dragan Becirovic and his brother Zoran have been causing controversies in the local media for years.

The weekly Monitor recently labelled them as 'players in the foreground' and individuals in direct business deal with Stanko Subotic Cane, Serbian businessmen on the run, and family of former prime minister Milo Djukanovic, the daily states.

Subotic refuted such allegations and accused Monitor of conducting a campaign against him.