Prosecution Finds 'No Evidence' BGN 206 M Taken from KTB in Sacks

Crime | July 17, 2014, Thursday // 13:03| Views: 2166 | Comments: 1
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Bulgaria: Prosecution Finds 'No Evidence' BGN 206 M Taken from KTB in Sacks Photo by Christina Dimitrova

BGN 206 M missing at Bulgaria's CorpBank were not carried out of the bank in cash in the past weeks as previously thought, Sofia Prosecutor's Office announced.

Results from the investigation so far show the money was embezzled over a period of three years, with fake documents allegedly created by Corporate Commercial Bank (KTB) high-profile employees to cover up the wrongdoing.

The misappropriation was probably committed between the end of 2011 and June 20, 2014, the prosecutors maintain, arguing this stretch of time has been confirmed by numerous witnesses, graphological analyses and data from KTB's informational system.

They are firm that BGN 206 M were not withdrawn in cash on June 19, 2014, despite initial claims that KTB majority shareholder had requested the transaction and had used "third-party" assistance to carry it out.

In a message to the media, the Sofia Prosecutor's Office explained it would use its website to provide and update information on the case on a regular basis, without violating bank secret rules.

Earlier this week the Sofia Regional Court allowed the divulging of bank secret on the debtors of KTB upon the prosecutors' request in relation to the ongoing probe against Bulgarian National Bank (BNB) Deputy Governor Tsvetan Gounev, responsible for banking oversight.

The message shows the investigation into KTB is on three counts - malfeasance (on which Gounev was indicted), embezzlement (related to the missing BGN 206 M) and the findings of an independent audit conducted at KTB, the results of which were earlier submitted to prosecution.

The property acquired over the last ten years by those targeted by the investigation will also be scrutinized.

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Tags: Tsvetan Gounev, Sofia Regional Court, Sofia City Prosecutor's Office, Corporate Commercial Bank, KTB, BNB, embezzlement
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#1
EDC - 19 Jul 2014 // 09:39:34

No surprise ?