Sofia City Court released on a bail of BGN 2,000 controversial businessman Plamen Timev. Photo by Nadya Kotseva (Sofia Photo Agency)
Sofia City Court released on a bail of BGN 2,000 controversial businessman Plamen Timev on Tuesday becasue of his "deteriorating" health.
The judges argued that becasue of his poor health condition, the detained is not likely to commit another crime.
The ruling is final and is not subject to appeal.
Timev, also known as Gandi, was arrested on charges of defrauding more than BGN 1,5 M from construction contracts.
If the charges are proven, Timev could be sentenced to between three and 10 years in prison.
Timev, who is an architect, owns several nightclubs in Sofia and on the Bulgarian seaside, while media reports in the past linked him to Bulgaria's notorious, and now defunct, SIK and VIS organised crime groupings.
Timev has a reputation as an art lover and became the owner of Bulgaria's first private theatre in the 90s, flirting on several occasions with investment in football clubs.