site.btaFour Loan Sharks Arrested for Extortion and Violence

The Directorate General for Combating Organized Crime (DGCOC) arrested four loan sharks, searched seven addresses, and seized more than BGN 100,000 and documents during an operation in Sofia on Tuesday, under the supervision of the Sofia City Prosecutor's Office, the DGCOC reported on Thursday. The operation targeted a group that used threats and violence to force debtors to sell property and repay loans with extremely high interest rates.

Four men, aged 47, 49, 50, and 54, were arrested for involvement in the criminal scheme. During the searches, DGCOC officers seized around BGN 100,000, mobile phones, documents related to property transfers, and other items relevant to the investigation.

All four suspects have been charged, and their detention has been extended for up to 72 hours. 

According to victims, the ringleader claimed they had no one to complain to about his actions. He and the other members of the group coerced debtors into paying unaffordable monthly instalments at any cost, including through the sale or transfer of movable and immovable property.

The investigation is ongoing.