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Trial for biggest fraud in Bulgaria’s recent history starts

Head of the Specialized Prosecutor's Office Ivan Geshev
Photo: BGNES

An open court hearing is scheduled for December 13 over the bankruptcy case of Corporate Commercial Bank. The indictment filed by the Specialized Prosecutor's Office on July 20th is over 5,000 pages. More than 400 witnesses have been questioned and the volume of evidence gathered is huge.

The main shareholder of the bank Tsvetan Vassilev and 17 other bankers and financiers are accused of draining over 1.25 billion euro. Vassilev has been hiding from the Bulgarian authorities and is wanted by Interpol as a procedure for his extradition is currently underway. The court could still decide that the trial continues in his absence.

Head of the Specialized Prosecutor's Office Ivan Geshev commented that it could be said that the CCB case is the biggest financial fraud and corruption scheme in the new Bulgarian history.



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