Prosecutor General Ivan Geshev: Unique case, not only for Bulgaria, but also worldwide, is being investigated

13 January 2023

A unique case not only for Bulgaria, but also worldwide - this is how the  Prosecutor General Ivan Geshev described the investigation launched against an organized criminal group for money laundering, tax crimes, computer fraud and banking without a license, which is being conducted by a team of the National Investigative Service and officials of State Agency for National Security under the supervision of the Sofia City Prosecutor’s Office.

"I would like to express my gratitude to the colleagues who have worked for months. I also express my gratitude to the colleagues from the Ministry of  Interior, who provided significant support in carrying out the investigative actions. This is an example of good institutional cooperation and good cooperation with our European and Euro-Atlantic partners", said Ivan Geshev.

Deputy Prosecutor General for the Investigation and Head of the National Investigation Service, Borislav Sarafov; the Spokesperson of the Prosecutor General Siyka Mileva; the Head of Cybercrime Department within the National Investigation Service, Svetoslav Vasilev; officials from Financial Security Department in the State Agency for National Security as well as officials from the British National Crime Agency also participated in the briefing in connection with the investigation.  

Borislav Sarafov announced that in the course of the investigation, by court order, 15 places, offices and homes were searched, a huge number of magnetic data carriers, computers, money, crypto-assets were seized. More than 20 witnesses were interrogated, including anonymous ones. "Some of them have expressed concerns for their safety and will be included in the Witness Protection Program," Sarafov said.

In the initiated pre-trial proceedings, 4 persons have been brought to justice. They were charged with participating in an organized criminal group, operating from the beginning of 2018 to January 12, 2023 on the territory of Bulgaria, the United Kingdom of Great Britain and Northern Ireland, the Swiss Confederation and the Cayman Islands and one of them was the leader of this group, created for their own benefit and with the aim of committing organized crimes in the country and abroad. Prohibition on leaving the country was imposed on all accused persons.

The Spokesperson of the Prosecutor General, Siyka Mileva, announced that remand measure “bail” to the amount BGN 1 million has been imposed on two of the participants in the organized criminal group. “This investigation is estimated to be second of significance after the investigation into the bankruptcy of Corporate Commercial Bank," Siyka Mileva said.

In response to a journalist's question about publications concerning politicians associated to members of the organized crime group, the Spokesperson of the Prosecutor General noted that the Prosecutor's Office is ready to bring charges against anyone, no matter if a minister, MP or magistrate, in case there is enough evidence, gathered during the investigation. Mileva commented that in this case there is evidence from a meeting held in the office of the Minister of Finance with representatives of the investigated company and a company for bank transactions, at which the possibility of introducing cryptocurrency payments in our country was discussed.

Svetoslav Vasilev, Head of the "Cybercrimes" Department at the National Investigation Service, provided information on the activities of the company under investigation. He explained that transfers were detected from the crypto exchange, which has been sanctioned by the US. Violations of UN sanctions were also found. Attempts to manipulate markets of various cryptocurrencies have also been recorded.

"The total value of the completed transactions is over 94 billion dollars. "Transactions to a person convicted of terrorist activity were discovered," Svetoslav Vasilev added.

Deputy Prosecutor General Borislav Sarafov pointed out that in today's global world, financial stability is of key importance for the normal functioning of the economy and the well-being of citizens. "The investigation is unprecedented," Sarafov stressed.

 "I hope Bulgaria will be in the world news with what we can be proud of - our successes in the IT sector, young people who are exceptional specialists in this field, and not to be in the world news with cases that give a negative image of the country", said the Prosecutor General Ivan Geshev.