site.btaCourt Sets BGN 250,000 Bail for Rumen Gaytanski in Bulgarian Development Bank Loan Probe

The Sofia City Court set a cash bail of BGN 250,000 for Rumen Gaytanski, accused in the investigation of a loan granted by the Bulgarian Development Bank. The court's ruling is not final and is subject to appeal and protest.

Gaitansky's application for amendment of his permanent arrest to a lighter measure was heard on Thursday, with his lawyer Galya Galabova pleading for the imposition of a cash bail. The prosecution sided with the defence request.

Rumen Gaytanski is accused as an instigator in the investigation of a loan granted by the Bulgarian Development Bank (BDB) for BGN 148.5 million. Gaitansky was detained for up to 72 hours after he voluntarily surrendered to law enforcement authorities. Also accused in the case are the former executive director of the Bulgarian Development Bank, Stoyan Mavrodiev, and Ivan Georgiev, a representative of the company that received the loan, Roadway Construction. Mavrodiev was subsequently declared a national wanted by decree of the Commission for Combating Corruption.