Stoyan Mavrodiev

Stoyan Mavrodiev, the former head of the Bulgarian Development Bank (BDB), has been declared a national wanted person, according BNR sources within the prosecutor's office. Mavrodiev is one of three defendants involved in a case concerning an unsecured loan of 150 million leva that the bank issued in 2019 to a company linked to Rumen Gaitanski, also known as "The Wolf."

Rumen Gaitanski, known as "The Wolf," voluntarily surrendered this afternoon and has been detained for 72 hours, according to BNR. He faces investigation for alleged misappropriation of an unsecured loan amounting to 150 million leva, alongside former Bulgarian Development Bank (BDB) executive director Stoyan Mavrodiev and lawyer Ivan Georgiev.

In the case surrounding a nearly 150 million leva loan from the Bulgarian Development Bank (BDB) to a company linked to Rumen Gaitanski - "The Wolf", three individuals have now been charged.

Yesterday, authorities from the Anti-Corruption Commission, along with prosecutors and police, conducted operations at properties and offices linked to businessman Rumen Gaitanski, known as "The Wolf," and former Bulgarian Development Bank (BDB) director Stoyan Mavrodiev.

Bulgarian police, prosecutors, and Anti-Corruption Commission officials have entered properties linked to businessman Rumen Gaitanski, also known as "The Wolf" (Valka), as reported by BNT. The investigation centers around a loan provided by the state-owned Bulgarian Development Bank (BDB) to a company associated with Gaitanski.

The Bulgarian Development Bank will assume the role of the financing institution under the InvestEU plan. This European Union program has inherited the "Juncker Plan" and will support the private sector in the European economy. The news was announced on the 18th of June - the Bulgarian Development Bank marked 20 years since it was established, reports BNT. 

The City Court in Sofia, Bulgaria, has fined Capital Weekly judicial reporter Rossen Bossev in a defamation case presided over by a judge he had previously criticised - drawing criticism from domestic and international media watchdogs.

The court failed to proceed with the case against former finance minister, Simeon Dyankov, former minister of the economy Traicho Traikov, businessman Ivo Prokopiev, the Executive Director of investment intermediary "Bulbrokers", Radoslav Rachev, and two of his employees, reports BNT. 

Stoyan Mavrodiev, Chair of Bulgaria's Financial Supervision Commission (FSC), met with Vitor Constancio, Vice-President of the European Central Bank (ECB) during a working visit to Frankfurt.

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