Anti-Corruption Commission Probes Large-Scale Property Fraud and Money-Laundering Scheme Allegedly Linked to “Velichie” Party

The Anti-corruption Commission is investigating a major scheme involving property fraud and money laundering allegedly connected to the political party 'Velichie', the BNT has learned. Several individuals have been detained.

Early this morning, agents of the Commission, supported by gendarmerie and police units, carried out searches at addresses in Sofia, Varna, Shumen, Pazardzhik and the village of Neofit Rilski. The operation is being conducted under the direction of the Sofia City Prosecutor’s Office.

The investigation follows allegations reported in the media and signals submitted by MPs concerning the activities of a financial pyramid scheme allegedly led by Velichie’s leader, Ivelin Mihaylov.

Mihaylov himself is not among those detained.

He commented on the operation in a video statement posted on Facebook, saying that police had entered both his home and the homes of acquaintances who, he claimed, had no connection to the matter. According to him, the state is targeting “inconvenient political leaders”.

Ivelin Mihaylov, leader of Velichie:
"This morning they entered my home and the homes of all the people I know — some of them have absolutely nothing to do with any of this. But they went in there as well, just to strike everywhere. This is how the state always operates — we are showing it to you in real time. What can I say? Radostin Vasilev was the government’s blunt instrument. He made noise — someone had to do it. They watched him for two or three weeks and today we see the result. We will not give in and we will not kneel before these people. But most likely they will try to prevent us from carrying out political activity — to discredit us. Most likely. We shall see. They could request my immunity from the Prosecutor General or something else. But at least I am grateful to the police for allowing the children to leave for school calmly and for not creating ugly scenes. So — my compliments to the officers for their courtesy."