Bulgaria issues international arrest warrant for Corporate Commercial Bank majority owner, Tsvetan V.

Bulgaria’s Prosecutor’s Office announced Aug. 12 that it was pressing charges against Corporate Commercial Bank (KTB) majority owner, Tsvetan V., and that it has issued an international arrest warrant in his name, the Bulgarian newswire, Sofia Globe, reported Aug. 18.

“The charges and warrant are the result of the ongoing investigation into the circumstances that led to KTB being put under Bulgarian National Bank (BNB) conservatorship on June 20,” the prosecutors stated in a statement, as cited by the newswire.

On July 28, the Bulgarian Prosecutor’s Office charged Tsvetan V. with persuading KTB’s chief cashier, Margarita P., and the bank’s chief executive, Orlin R., to authorize cash withdrawals of BGN 206 mln (about EUR 105.3 mln) between December 2011 and June 19, 2014.

“A European arrest warrant in Tsvetan V.’s name has been issued as his whereabouts remain unknown,” the prosecutors stated, as cited in the newswire. “His name has also been added to wanted list in the Schengen information system and steps have been undertaken to put him on the Interpol wanted list.”

Prosecutors said also that the ongoing investigation connected with KTB and Tsvetan V. has been carried out in such a fashion so as not to interfere with the activities of the bank’s administrators appointed by the Bulgarian Central Bank. Nor has the investigation hamper any moves towards granting KTB depositors access to their money.

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