site.btaSofia Court Authorizes European Arrest Warrant for Tzvetan Vassilev

The Sofia Appellate Court on Tuesday issued a final ruling authorizing the prosecution service to issue a European Arrest Warrant (EAW) for Tzvetan Vassilev. 

The court thus upheld the decision of the lower court, arguing that this is the only possible measure that could ensure the normal conduct of the proceedings against Vassilev. Besides this, there is a reasonable assumption that he is involved in the offences with which he has been charged. Considering that Vassilev is in Serbia, he may abscond unless a EAW is issued, the court concluded.

Tzvetan Vassilev is the former majority owner of Corporate Commercial Bank (Corpbank), which collapsed in 2014, leaving thousands of depositors high and dry. Vassilev is in Belgrade and refuses to return to be tried on charges of money laundering. He was granted political asylum there, and a Serbian court conclusively refused to extradite him to Bulgaria.