The Sofia City Court has placed an injunction on the property of Tsvetan Vasilev, majority owner of Bulgaria's troubled Corporate Commercial Bank (KTB).

Property injunctions have been imposed on seven other people in the same case, including Tsvetan Gunev, Orlin Rusev, Alexander Pantaleev, Georgi Zyapkov, Margarita Petrova, Maria Dimova and Borislava Treneva. The case concerns the illicit withdrawal of BGN 206 M from KTB.

KTB and its subsidiary Victoria Commercial Bank have been placed under special supervision (conservatorship) by the Bulgarian National Bank (BNB) since June 20 and June 22, respectively, due to a massive withdrawal of deposits.

The injunction orders were issued Tuesday on the request of the prosecuting authority, according to reports of Sega daily.

The press office of the prosecuting authority has not specified the property affected by the injunction orders.

Meanwhile, Interpol issued a Red Notice for the arrest of Tsvetan Vasilev, citing charges of "misappropriation in public office in particularly large size, representing a particularly serious case."

According to Bulgaria's prosecuting authority, a European Arrest Warrant (EAW) has been issued for Vasilev and he has also been included as a wanted person in the Schengen Information System. Bulgarian authorities have also requested assistance from Eurojust for Vasilev's arrest.

According to a media statement of Bulgaria's illegal assets commission, the inspectors at the commission are to check the incomes and expenses of all 10 defendants in the KTB case within 12 months and to request that they be seized for the benefit of the state in the case of a discrepancy of over BGN 250 000.