The allegedly corrupt Bulgarian professor of economics, Petkan Iliev, was freed Monday on a BGN 10 000 bail.

Iliev, who is an Assistant Professor of Economics at the University of National and World Economy in Sofia, was busted at the end of last week on accusations that he was the mastermind of a scheme in which students paid between BGN 300 and BGN 4 000 to be admitted to the university, or to pass their exams.

Iliev's alleged accomplice, Boyan Trenchev, was released on a BGN 5 000 bail. The President of the UNWE, Borislav Borisov, has made it clear that Iliev would be fired if proven guilty. The university has undertaken an internal investigation of its own.

Ilieve's arrest on corruption charges came as a shock to many last week as he is known to the wider Bulgarian public as a current affairs commentator on topics including countering corruption, and as a textbook and book writer.