site.btaCourt Terminates Money Laundering Proceedings against Ex-Parliament Deputy Chair

Court Terminates Money Laundering Proceedings against Ex-Parliament  Deputy Chair

Sofia, February 10 (BTA) - The Sofia City Court Wednesday announced the termination of money laundering proceedings against the former deputy chair of Parliament and ex-leader of the Movement for Rights and Freedoms, Hristo Bisserov. The court decree followed a decision by the prosecution magistracy of February 3 to terminate the pre-trial proceedings against Bisserov and his co-defendant and stepson Ivaylo Glavnikov.

This development comes two months after Bisserov was acquitted of tax evasion, undeclared money transfers and incomplete information submitted to the National Audit Office. The prosecutors in the case said they would appeal the acquittal but the outcome of the acquittal is questionable considering the course of the money laundering case.

It transpires from the announcement of the court on Wednesday that on December 14, 2015, Bisserov and Glavinkov petitioned the court to instruct the procecutors to indict them for money laundering or to terminate the investigation against them due to the expiration of the two-year. The court gave the procesutors two months to do that but received a letter from the Sofia City Prosecution Office informing it that the money laundering investigation was closed on February 3.

Bisserov was one of the key members of the Bulgarian political elite until late 2013 when he lost all his political posts and was charged with a number of financial offences. Based on the charges, he and his stepson had assets worth 1.5 million leva forfeited by the State.