ASSETS OF BANKER TZVETAN VASSILEV TO THE VALUE OF OVER 600 MILLION BGN UNDER RESTRAINT

On 1st of December, Sofia City Court issued a restraint order on assets, worth more than 600 million BGN, belonging to the Bulgarian banker Tzvetan Vassilev, who is currently in Belgrade and a subject to an extradition request.

The court imposed the restraint at the request of Bulgaria’s Commission for Illegal Assets Forfeiture (CIAF).

The restrained assets include shares, properties and buildings in Sofia, Bansko, Sozopol, Varna and Tsarevo, bank accounts, cars, lorries and paintings belonging to the banker, his wife, daughter and companies controlled by the owner of the collapsed Corporate Commercial Bank (CCB). CIAF said they requested the restraint order as collateral in a future lawsuit that the asset forfeiture commission plans to file against Vassilev to recover over 964 million BGN.

For the first time since the establishment of the asset forfeiture commission, restraint was imposed on immovable property of the banker in Switzerland and on money held in four accounts in Swiss banks.