COMPENSATORY PAPERS WORTH BGN 1,8 M FORGED

Business | December 3, 2001, Monday // 00:00

The Burgas branch of Biochim Bank seized forged compensatory papers worth BGN 1,8 M, Georgi Georgiev, deputy district governor announced on December 3. It was only last week that the fraud was discovered by bank officials. Deputy district governor Virginia Hyke explained that the Bank cannot cash the compensatory papers but they can be sold or used at a tender. According to Hyke compensatory paper worth 100,000 can be sold for BGN 17,000. The deputy governors said the matter has been referred to the Prosecution Office. They declined to mention any names however since this could interfere with the case’s investigation.
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