Thirty-three pre-trial proceedings for real estate fraud have been initiated solely by the Sofia District Prosecutor’s Office. In two of the investigations, five individuals have been detained over the past two weeks, with one high-value property in Sofia—worth over 1 million BGN—being saved from fraudulent acquisition.
What schemes are the property fraudsters working on?
The schemes, it turns out, are deeply familiar, mainly by preparing false documents to be used to make transactions before notaries to transfer ownership of the properties. One of the deals was for a mouth-watering property of 1-2 acres, located in Studentski Grad, between Hristo Botev Hall and the Winter Palace. The market value of this property is estimated at over BGN 1 million. Of course, they tried to appropriate it through false documents.
How do real estate fraudsters operate?
It turns out that the schemes are well-known and mostly involve the creation of forged documents used to complete fraudulent transactions before notaries, transferring property ownership unlawfully. One of the targeted properties is a highly desirable plot of 1–2 decares, located in Sofia’s Studentski Grad (Students' city) district, between the "Hristo Botev" Hall and the Winter Sports Palace. The market value of the land is estimated at over 1 million BGN. Fraudsters attempted to appropriate it using fake documents.
Chief Commissioner Lyubomir Nikolov, Director of the Sofia Metropolitan Directorate of Interior (SDVR):
"A group of individuals—well known to our law enforcement structures—attempted to carry out a transaction at a notary office in central Sofia using forged documents. Within about three days, our colleagues were able to understand the structure and modus operandi of those preparing the fraud. Ultimately, four days later, we intercepted the suspects as they attempted to finalise the transaction at a notary’s office under the jurisdiction of the Sofia District Court."
Nikolay Nikolov, spokesperson for the Sofia District Prosecutor’s Office:
"Two of the identified perpetrators have been charged. One has been remanded in custody, and the other is under house arrest."
A particularly curious detail in this case is that one of the fraudsters filed a report with the Prosecutor’s Office regarding the very scam they were preparing—apparently in an attempt to deceive the investigators. The legitimate owners of the property only became aware of the attempted fraud after noticing changes recorded in the cadastre.
Searches of the homes and properties of the detained and charged individuals uncovered a large number of additional documents related to other properties. Authorities believe this intervention may have prevented the theft of at least 10 more properties.
Prosecutor's Office and Ministry of Justice declared war on the property mafia
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