Bulgarian Oligarchs' Assets in Greece Come Under Scrutiny

Interior Minister Ivan Demerdzhiev has requested an investigation into the assets of Bulgarian oligarchs in Greece, it emerged following a meeting with his Greek counterpart, Michalis Chrysochoidis, in Sofia on July 22.

Speaking to journalists, Demerdzhiev said he was not among those who own homes in Greece, responding to allegations made by MPs from the Movement for Rights and Freedoms (MRF). The party said it would refer the minister's and his wife's assets, as well as companies linked to them, to the Prosecutor's Office for investigation.

In Parliament, MRF members asked about the Demerdzhiev family’s assets and disclosed data from public registries.

Hamid Hamid—Deputy Chair of the MRF parliamentary group:

"The individuals and the companies they control own 411 properties. According to the notarial deeds, the total value of the transactions carried out by the legal entities controlled by the Demerdzhiev family amounts to 16 million leva."

According to Hamid, the Interior Minister became a partner in a company purchasing agricultural land in 2019, including plots in the area known as the "Beverly Hills" near Plovdiv. MRF accused Demerdzhiev of carrying out sham transactions aimed at avoiding tax liabilities and concealing the true ownership of the properties.

Hamid Hamid:

"Immediately after the sales by Demerdzhiev and his business partners, the ministry somehow changed the status of the land. The schemes used by Demerdzhiev and his associates generated profits of more than five million leva."

Demerdzhiev responded swiftly to the allegations.

Ivan Demerdzhiev, Interior Minister:

"I have been a lawyer for 26 years, and thanks to Mr Peevski I have undergone a comprehensive tax audit, which established my income and assets and confirmed that I have zero outstanding tax liabilities. Unlike some people, I have not suddenly increased my wealth by hundreds of millions in a single year through political office. I have not become rich in that way. I have worked hard year after year."

Speaking to the media, the minister also said he had asked the Greek authorities to assist Bulgaria in identifying oligarchs and corrupt Bulgarian nationals who own property or conduct significant financial operations in Greece.

Demerdzhiev said: "I do not own any houses in Greece, but many people own properties there worth enormous sums. Many people carry out major financial transactions connected with Greece. All of this will be identified and investigated."

He added that the investigations would cover individuals from across the political spectrum.