KEYWORDS TODAY:   BUDGETWESTINGHOUSESIGMACARETAKER GOVERNMENTKTB

HOT: » Bulgaria's President is holding political consultations with party leaders after GERB's decision to withdraw its support from the 2014 budget update

Bulgaria's Chief Prosecutor Summons KTB Owner Tsvetan Vasilev

Business » FINANCE | July 11, 2014, Friday // 14:52| Views: 1706 | Comments: 2
  • Send to Kindle
Bulgaria: Bulgaria's Chief Prosecutor Summons KTB Owner Tsvetan Vasilev Bulgaria's Chief Prosecutor Sotir Tsatsarov

Bulgaria's Chief Prosecutor Sotir Tsatsarov will request the return to Bulgaria of Corporate Commercial Bank (KTB) majority shareholder Tsvetan Vasilev, said the prosecution. 

He will be summoned “in accordance with the international legal cooperation” in connection to the missing money from the KTB vaults.

According to the statement, published on the Prosecutor's Office website, the prosecution has started an investigation for “the illegal withdrawal of unusually large sums on June 19, 2014”. 

The sums of EUR 93 139 500, BGN 23 657 575 and USD 45 000, equalling to a total of BGN 205 887 223 were “taken out of the bank vaults, in cash, in sacks”. 

According to the prosecution, Orlin Rusev, chairperson of the KTB Managerial Board and Executive Director of the bank was arrested today in the seaside town of Sozopol. On him the prosecution has “proof that personally ordered those sums to be taken out of the bank vault and given to third parties”. 

Chief KTB cashier Margarita Petrova was arrested for 72 hours for “misappropriation of particularly large size”, which is a felony punishable by Bulgaria's Penal Code. According to the prosecution Petrova took the money out of the vault in sacks and gave them to third parties.

Finance » Be a reporter: Write and send your article
Tags: KTB, Corporate Commercial Bank, Tsvetan Vasilev, Sotir Tsatsarov, misappropriation, money, bank, vaults
Expats.bg All Are Welcome! Join Now!

Leave a comment


» To the forumComments (2)
#2
EDC - 12 Jul 2014 // 14:25:04

The owner is out of the country ? They have Requested his return?

sure why not he will return to some kangaroo court ?

#1
Tania Oz - 12 Jul 2014 // 03:01:47

Sacks of money being handed around? Christmas has come early for some!

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria