FBI Investigates Bulgaria Energy Tycoon Kovachki over Large-scale Fraud

Crime | February 18, 2009, Wednesday // 00:00| Views: | Comments: 5
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FBI Investigates Bulgaria Energy Tycoon Kovachki over Large-scale Fraud: FBI Investigates Bulgaria Energy Tycoon Kovachki over Large-scale Fraud The US Federal Bureau of Investigation has sent information to Bulgarian authorities about the involvement of one Bulgaria's wealthiest people, energy tycoon Hristo Kovachki, in large-scale financial fraud. Photo by BGNES

The US Federal Bureau of Investigation (FBI) has sent information to Bulgarian authorities about the involvement of the second wealthiest Bulgarian, energy tycoon Hristo Kovachki, in large-scale financial fraud, BGNES reported, citing own sources.

At the end of 2008, FBI agents have submitted many documents supporting their claims that Kovachki was guilty of fraud.

Hristo Kovachki was recently ranked by the Polish magazine Wprost as Bulgaria's second richest man with a fortune of USD 700 M.

Kovachki owns the Bulgarian Energy Company, with 70% of the Atomenergoremont Company, known best as the contractor hired to repair and maintain the facilities of the Kozloduy Nuclear Power Plant.

Earlier in 2008 Kovachki acquired the Bobov Dol Thermal Power Plant. He also owns several mining companies, heating plants, a supermarket store chain, the Sofia-based Municipal Bank, and several factories in Serbia.

On November 12 2008, police raided 17 of the offices of the energy businessman, and seized accounting documentation and other evidence, accusing him of tax evasion.

The Sofia City Court imposed the record for Bulgaria BGN 300,000 bail, which Kovachki's lawyers disputed. On November 21, the Court reduced the bail down to BGN 200,000, which was paid by Kovachki.

In the mean time, Serbian media have published articles claiming that workers from 10 Serbian companies, owned by Kovachki have not received their salaries for months. The Serbian Privatization Agency is expected to conduct a check-up of Kovachki's dealings in the country.

In addition of his businesses, Kovachki had been involved in the Bulgaria's political life and is known as the founder of the opposition LIDER party. On November 2, 2008 LIDER, the nationalist VMRO, and the Agrarian People's Union - united into a new center-right coalition called Movement "Napred" ("Forward").
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» To the forumComments (5)
#5
resipsaloquitur - 22 Feb 2009 // 01:07:19

Dear roadtripper,

It sems you have NOT heard of INTERPOL,have you?

There is probably a TEATY b/n BG and USA for cooperation and exchange of

intelligence concerning

CRIMINAL activities.

May be Kovachki tried to depost a large sum of $$$$$$$$$$$ in a US bank

and according to US Bank laws,they are obliged to report all suspicious activities

in the banking sector.

All this is called CRIME PREVENTION.

#4
Taro - 19 Feb 2009 // 08:23:41

Anywhere, anyone, any time...

#3
georgebgn - 19 Feb 2009 // 07:40:44

Taro,

like it is much different anywhere else buddy..

#2
Taro - 18 Feb 2009 // 21:28:45

There are no rich people in Bulgaria, only rich gangsters.

Greets
Taro

#1
roadtripper - 18 Feb 2009 // 17:07:56

The FBI has no business sticking its long, snot-dripping nose in other country's internal affairs..
Stick to USA & its own little girl-scout police state..

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