Another Bulgarian businessman-Vasil Bozhkov, who is considered one of the wealthiest Bulgarians since the beginning of the transition to democracy and market economy, has been targeted by the Bulgarian judiciary. Earlier, the Prosecutor’s Office initiated proceedings against businessman Tsvetan Vasilev (owner of the bankrupt Corporate Commercial Bank, accused of misappropriation worth EUR 1,4 billion), Minyu Staykov (owner of alcohol distillery), Vetko Arabadzhiev and Marinela Arabadzhieva (with business in tourism and hotel industry) and Nikolay Banev and Evgenia Baneva (with business in the chemical industry).

Bozhkov’s estimated wealth exceeds EUR 1 billion. Bulgaria’s Prosecutor General Ivan Geshev took action against Vasil Bozhkov immediately after amendments to the Gambling Act banning operation of lotteries by private companies were submitted to the Bulgarian National Assembly. Vasil Bozhkov has been running most of this business in Bulgaria, which is estimated at over EUR 500 million per year. He did not hide his anger from the proposed nationalization and monopolization of the lottery games. Bozhkov is also a key factor in Bulgaria’s insurance and construction sector. He owns the biggest private collection of paintings and antiquities worth between EUR 200 and 600 million. Bozhkov finances one of Bulgaria’s most popular football clubs- Levski PFC. Meanwhile, he left Bulgaria. Later, Bozhkov was found in the United Arab Emirates and detained under an international arrest warrant issued by the Bulgarian Prosecutor’s Office. The Bulgarian competent authorities are now expecting his extradition to Bulgaria. The Prosecutor’s Office pressed seven charges against the Bulgarian gambling tycoon including organizing a crime group, extortion, blackmail, attempted bribery of an official, incitement to commit criminal offences, financial crimes, etc. According to the Prosecutor’s Office, his companies avoided paying taxes to the state treasury to the tune of over EUR 300 million. Later, Vasil Bozhkov became a murder and rape suspect as well.

Speaking of “the Bulgarian Oligarchs” Prosecutor General Ivan Geshev summarized the situation: All people are equal before the law and no one can feel untouchable. If such a period in Bulgaria’s history existed after 1989, it is gone and left in the past. Bulgaria is changing. Those who have not understood and noticed that and violate the law will bear their consequences and meet with the Bulgarian court.

The latest spectacular actions of the Bulgarian authorities provoke controversial opinions in society. Basically, the Bulgarians are confident that the millions of the rich are not made the honest way and many people seem to approve the actions against the wealthy. However, there are people who doubt that the law-enforcement authorities will be able to deal with such complicated financial and economic crimes and think this may be another media bubble and the criminals will not pay for violating the law.

English version: Kostadin Atanasov