site.btaAnti-Corruption Commission, Prosecution Office Conduct Searches in Connection with Suspicious Loan Worth BGN 148.5 Mln

The Commission for Anti-Corruption (CAC) and the prosecutor's office are conducting searches in connection with an investigation into a loan granted by the Bulgarian Development Bank worth BGN 148.5 million, the prosecutor's office told BTA on Wednesday.

More information on the investigation is expected at a later stage.

The Anti-Corruption Commission said on Friday that the subject of the investigation is data on mismanagement and embezzlement committed by BDB officials in connection with a contract dated June 17, 2019, whereby the bank granted a loan of BGN 148.5 million to Roadway Construction, which was secured by a contract for the supply of inert materials by Patstroy Engineering AD. The principal shareholder in the latter company is Bio Mining AD. The investigation found that all three companies are managed by a Bulgarian citizen identified as R.G. 

The Bureau for Investigative Reporting and Data (BIRD.bg) said in July that proceedings were initiated on an alert about crimes in the granting and use of a loan of BGN 150 million to a company related to Rumen "the Wolf" Gaytanski. The loan agreement was signed on June 17, 2019 between BDB and Roadway Construction AD. The Sofia City Prosecution Office terminated the proceedings in May 2023. The Bulgarian Development Bank missed the deadline to appeal against the termination of the criminal proceedings, BIRD.bg said.