A 53-year-old man was shot several times and died of his wounds in the Bulgarian capital of Sofia on Thursday evening.

According to media reports, the victim was Veselin Stoimenov, whose past is often connected with the criminal group of brothers Vasil and Georgi Ilievi.

The founder of the group Vasil Iliev was assassinated in 1995, while his brother and successor Georgi was shot ten years later.

Stoimenov, who was considered the successor of Georgi Iliev, was involved in at least five firms engaged in different activities mainly along the Black Sea coast, but also in Sofia.

Minutes after the murder, a burned car, was found in a nearby neighbourhood.

Authorities are working on establishing whether the vehicle was used by the perpetrators of the crime. Police is also continuing investigations on identifying the shooters.