Bulgaria's Prosecution to File KTB Case with Court Early Next Year

Business » FINANCE | October 13, 2016, Thursday // 15:14
Bulgaria: Bulgaria's Prosecution to File KTB Case with Court Early Next Year A view of KTB's headquarters in downtown Sofia. Photo: Hristina Dimitrova

Bulgarian Chief Prosecutor Sotir Tsatsarov has said the Corporate Commercial Bank (Corpbank or KTB) failure case will be submitted to the the Specialized Criminal Court in February or March.

Tsatsarov's comment, which comes amid a domestic spat over claims hurled by Vasilev about relations between politicians and businessmen in Bulgaria, also coincides with a statement from the banker, quoted by private bTV station.

Vasilev was the majority owner of Corporate Commercial Bank (Corpbank or KTB), which collapsed in the summer of 2014 following a bank run and was later declared insolvent.

He is sought by Bulgarian authorities on embezzlement charges and is facing an extradition request, with the trial against him expected to be launched again and a new ruling expected in 2017. An earlier court move to grant the extradition request was overruled by a higher instance.

BTV on Thursday quoted Vasilev as saying he was ready to cooperate with the country's prosecution if it decided to launch a probe into his claims.

An investigation has been backed by several judicial officials, such as the country's "top judge", Lozan Panov, but is strongly resisted by Tsatsarov, who maintains his widely publicized claims are a mere attempt at averting the consequences of the upcoming KTB trial.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Corporate Commercial Bank, Corpbank, KTB, Tsvetan Vasilev, Lozan Panov, Sotir Tsatsarov

Advertisement
Advertisement
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