Former Bulgarian Finance Minister Alexandrov Investigated for Usury

Former Finance Minister Stoyan Alexandrov is being investigated for usury, announced the speaker of the Chief Prosecutor Rumyana Arnaudova on bTV.

The check started on September 8 and is being carried out by the Sofia City Prosecutor's Office. It is for the period 2002-2016 when Alexandrov was the director of a bank but in his capacity as a natural person.

On Wednesday, three people stated on bTV that they had borrowed money from Alexandrov with interest and that they had to pay penalty interest of 0.5% per day for outstanding payments.

Several legal proceedings have been initiated against Alexandrov. His debtors also accuse him of forging documents.

The penalty for usury is between 3 and 5 years in prison and confiscation of ½ of all property.

Currently, Alexandrov serves as councilor in the Sofia Municipal Council.