The Sofia Appellate Court released Thursday alleged top criminal boss Krasimir Marinov aka the Big Marguin on his own recognizance.

Marinov is accused of plotting and ordering the murder of controversial Bulgarian journalist Bobi Tsankov. Tsankov was gunned down on January 5 in broad daylight on a busy Sofia boulevard. He was known for his involvement with the mafia and for publications revealing the dark secrets of the underworld.

Despite the court rule, the Big Marguin will remain behind bars because he is detained for 72 hours over charges of leading an organized crime group.

The magistrates decided that there isn't enough evidence Marinov had ordered Tsankov's murder and witness testimony is not sufficient to warrant keeping him behind bars. Some witnesses said that Tsankov had dismissed his bodyguards and told his family and friends he did not fear for his life.

The Sofia District Prosecutor, Nikolay Kokinov, said the Big Marguin had been the leader of a group dealing with illegal drug trafficking while Stefan Bonev aka Sako had been one of its members. There is no evidence Marinov's younger brother Nikolay aka the Little Marguin had been part of the group. Nikolay Marinov was issued a state-wide search and arrest warrant Wednesday in connection with Tsankov's murder. The Little Marguin disappeared just hours after the killing and his whereabouts remain unknown.

The Big Marguin told the magistrates he had never been involved in drugs either their trafficking or use.

Earlier Thursday, the prosecution pressed charges against the Big Marguin for organizing a crime group betwen December 1, 2009 and January 7, 2010. The group, allegedly, dealt with illegal drugs distribution and murder for hire.

Marinov’s alleged associate Stefan Bonev aka Sako was also re-arrested Wednesday night.