site.btaCourt Asked to Issue European Arrest Warrant for Former Bulgarian Development Bank CEO Mavrodiev

The Sofia Prosecution Office has asked Sofia City Court to issue a European arrest warrant for former Bulgarian Development Bank (BDB) executive director Stoyan Mavrodiev, the court told BTA Monday. The information was confirmed by the press office of the prosecution service.

The court is yet to schedule a sitting to consider the application. 

In late August 2024, Mavrodiev was declared nationally wanted after being charged for major official embezzlement in connection with a loan of some BGN 150 million granted by the BDB to the Roadway Construction company. The other accused in the pre-trial proceedings were Roadway Construction owner Rumen Gaytanski (as instigator) and the representative of the company Ivan Georgiev (as accessory).

The investigation into the BDB loan of 2019 was launched in late October 2022 following a tip-off. It was for a malfeasance in office and was assigned to the General Directorate for Combating Organized Crime and then to an investigator from the Sofia City Prosecution Office. By a decree of May 5, 2023, the proceedings were discontinued as the supervising prosecutor considered that there was no evidence of a malfeasance in office. The Appellate Prosecution Office upheld the termination, but the Supreme Cassation Prosecution Office found flaws in the investigation as some of the links between the companies that were connected to the loan had not been properly examined. The case was therefore referred back to the prosecution service on January 12, 2024 for further investigation, with instructions to question witnesses and request documentation. Following subsequent legislative changes, the pre-trial proceedings were assigned to the Anti-Corruption Commission.