Recently indicted businessman Rumen Gaytanski, facing charges of instigation in connection with a BGN 148.5 million loan from the Bulgarian Development Bank (BDB), has been ordered into pre-trial detention by the Sofia City Court, the prosecution service said on Monday.
Gaytanski was detained for up to 72 hours after voluntarily surrendering to law enforcement authorities. Former Bulgarian Development Bank (BDB) executive director Stoyan Mavrodiev and Ivan Georgiev, a representative of Roadway Construction, the company that received the loan, have also been indicted in the case. The court's decision is not final and may be appealed.
The prosecution service said that during the investigation, contracts between the companies were analyzed to trace the disbursement of the loan, noting evidence of fictitious collateral provided to the bank. The accusations against Rumen Gaytanski are deliberately instigating Stoyan Mavrodiev to commit a crime, with part of the loan used to pay dividends to Gaytanski totaling BGN 46 million, and over BGN 26 million used by the company Kristalna Voda to settle debts of the Varna coal-fueled power plant.
The prosecution service added that Gaytanski is a flight risk and could commit another crime, if released. Sufficient evidence has been collected to prove Gaytanski's guilt, the prosecution service added.
/КК/
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