A Bulgarian watchdog has found Angel Semerdzhiev, former Chair of the State Commission for Energy and Water Regulation (DKEVR), guilty of conflict of interest.

Bulgaria's Commission for Prevention and Ascertainment of Conflict of Interest launched the probe against Semerdzhiev after initiating a self-referral on February 19, 2013 on the basis of media publications, according to reports of private TV station Btv.

The results of the probe indicated that Semerdzhiev had issued a 10-year electricity trading license to Proenergy Trade OOD, a company owned by Anelia Dimitrova, godmother of Semerdzhiev's child.

It was found that Dimitrova had sold Semerdzhiev a house located in the villa zone of the village of Kosharitsa on the Black Sea coast twice cheaper than the market price.

Semerdzhiev was revealed to have subsequently sold an apartment of 168 sqm in the Black Sea resort of Nesebar to another company of Dimitrova, Anrad Konsult EOOD, for the sum of EUR 90 000.

The decision of the conflict of interest commission can be appealed before the Sofia Administrative Court.

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