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The Sofia City Court on Tuesday found the majority owner of CSKA football club and former board chairman of Kremikovtsi steelworks Alexander Tomov not guilty on charges of embezzlement .
He was charged with misusing a total of EUR 23 M, allegedly having transferred EUR 5 M of them from the bankrupt steel mill to CSKA, alongside Alexander Garibov, Ivan Ivanov and Bojko Bonev. Prosecutors demanded that all of the defendants' properties be confiscated.
The prosecution also demanded a ten-year jail sentence for Tomov on Monday.
This is the second ruling by the Sofia City Court on the case.
The court sentenced Tomov to nine years imprisonment in 2009 but the the Appellate Court overturned the verdict and returned the case for further consideration.
''It is clear that the accusations were unconstitutional,'' said Tomov on Monday. ''Seven years ago somebody ordered that someone was found guilty over the bankruptcy of Kremikovtsi, so we were chosen for the purpose.''
The verdict is not final and can be appealed in the Sofia Appellate Court.
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