BULGARIA’S SANS, PROSECUTOR’S OFFICE AND POLICE UNCOVER A MONEY LAUNDERING SCHEME

On 7th of January, Bulgaria’s State Agency for National Security, Public Prosecutor’s Office and the Police in the city of Plovdiv uncovered a large-scale scheme for illegal withdrawal of millions of euro in cash, which were transferred from abroad to Bulgarian banks.

Nine people have been detained so far and charges have been pressed against them for alleged money laundering. In the last 3 months of 2015, over BGN 2 million in cash have been withdrawn from branches of various banks in Bulgaria. The scam involved transferring of money from abroad to Bulgarian ghost companies, registered with capital of 2 BGN.

One of the detained was arrested during a police operation near a petrol station in the South Bulgarian city of Plovdiv on 30th of December by the police. The investigative authorities said at the time it was in connection with a financial crime.

A nationwide arrest warrant has been issued for Georgi Hristov Georgiev, who is wanted by the police. He represented the Bulgarian firms in dealing with the banks and withdrew 1.2 million BGN in October 2015.

The fraud scheme began several months ago. The victims are companies from 6 European countries, including France.