Bulgarian Ex-Banker, Tzvetan Vassilev, Seeks US Help under Magnitsky Law

Vassilev, who has fled to Serbia, is pushing to be the first case considered under the Global Magnitsky Human Rights Accountability Act, the prestigious American newspaper, The Hill, wrote on 3^rd of August. At a special conference his lawyer Hristo Botev said that this law is the ex-bankers only chance to get a fair trial. Tsvetan Vassilev was indicted on a total of 146 counts.

The first Magnitsky Act, passed in 2012, focused on sanctions against Russian officials who were thought to be responsible, according to the US government, for the violation of human rights in their home country. Last year the law was expanded and now it provides for sanctions for citizens from all countries involved in corruption or human rights violations. According to Tzvetan Vassilev's lawyer, his client has taken action under Magnitsky law about 6 months ago. A set of documents, including an analysis of the CCB case and the Bulgarian legislation, were prepared for this time. Tsvetan Vassilev said he wanted to be heard by the state body in the United States. Botev added this this could happen through online conferencing.

According to Bulgaria’s Minister of Justice, Tsetska Tsacheva, Bulgaria and the United States, for the time being, do not have legal measures to ban the US authorities from conducting an investigation into Tzvetan Vassilev under the Magnitsky Law.

She said that Vassilev did not respond to the invitation of the actions taken by the Judiciary, and in particular the Bulgarian prosecutor's office. Tsacheva added that the Serbian judicial authorities declined to rule on the request for Vasilev’s extradition.

The banker's lawyer said that his Serbian counterparts were working on the issue of extradition, and that at that point he advised his client not to return to Bulgaria.

Vassilev has been alleged in abstentia for embezzlement of 206 million BGN. He surrendered to the Serbian police in September 2014 and the extradition procedure has been on-going since then.

The indictment for the siphoning off of Corporate Commercial Bank was filed by the Specialized Prosecutor’s Office on 20 July.

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