According to private broadcaster B92 the police found the painting "The Boy in the Red Vest" (1894-95) late Wednesday in Belgrade. Estimated to be worth tens of millions of euros , it was stolen from the E.G. Buehrle collection in Zurich together with paintings by Edgar Degas, Vincent van Gogh and Claude Monet, B92 added.
The arrests were made in Belgrade and Cacak, a town 140 kilometres south-west of the Serbian capital, with the cooperation of several foreign police forces with the Serbian authorities, media said here.
The Serbian interior ministry would not comment on the reports other than to announce a press conference to be held later Thursday.
State television RTS reported that Swiss experts were on their way to Belgrade to authenticate the painting.