Bulgaria Prosecutors Probe Notorious Land Swap Deals

Crime | April 8, 2010, Thursday // 10:03
Bulgaria Prosecutors Probe Notorious Land Swap Deals: Bulgaria Prosecutors Probe Notorious Land Swap Deals Naydenov stated Thursday that Velchev has ordered Regional Prosecutors Offices to start work investigating the land swaps. Photo by BGNES

Bulgaria Agriculture Minister Miroslav Naydenov has delivered a report on the notorious land swaps scandal to Chief Prosecutor Boris Velchev.

Naydenov stated Thursday that Velchev has ordered Regional Prosecutors Offices to start work investigating the 5000 land swaps – which amount to 450 000 decares ‘swapped’ from 1998-2009, with the majority of deals being made between 2007-2009.

According to estimates of the current center-right GERB government, Bulgaria lost between BGN 2 B and BGN 8 B from land swap deals approved by the previous two governments who gave large plots to private companies in exchange for much cheaper properties.

This situation spurred action on part of the European Commission which has threatened to fine Bulgaria over the land swaps because they presented illegal state aid to private enterprises.

The Borisov government has argued that this was not the case as the land swaps are criminal acts, and vowed to abolish and investigate them.

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Tags: land swaps, Miroslav Naydenov, Boris Velchev
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