site.btaSpecialized Court to Start Hearing Corpbank Case Dec. 13

Specialized Court to Start Hearing Corpbank Case Dec. 13

Sofia, November 8 (BTA) - The Specialized Criminal Court will be hearing the Corpbank case on the embezzlement of over 2,765 million leva as of December 13.

Corporate Commercial Bank (Corpbank) collapsed in 2014 following a run on deposits. Prosecutors put the blame on former majority shareholder Tzvetan Vassilev, who was a majority shareholder in the bank, accusing him of embezzlement and using Corpbank as a classical financial pyramid to finance his own projects.

All copies of the indictment in their entirety exceed 210,000 pages. Charges have been brought against 18 persons. The evidence exceeds 1,360 pages.

Vassilev has been charged on 76 counts, including leading a criminal group and very serious embezzlement. He has been hiding from Bulgarian justice in Serbia since 2014.

Tsvetan Gounev, a former deputy governor of the central bank, is among those indicted for abuse of office.