Featured Bulgaria

Fugitive Gambling Tycoon Fights for His Vast Trove of Artifacts

Public quarrels between politicians and rich businessmen over alleged links to organized crime are hardly new, especially in a country ranked among the most corrupt in Europe. The case of Vasil Bozhkov in Bulgaria, though, has captured the national imagination because it cuts to the heart of the Balkan country’s heritage. The… Read More

Olympic Losses: How a failed Cyprus-based insurer was seized by alleged Bulgarian gangsters

Cypriot police are nearing the end of their probe into the allegedly fraudulent recapitalization of an insurance company that collapsed in 2018, leaving more than 200,000 drivers mainly in Bulgaria without coverage, and unpaid claims of 44.8 million euros. But an investigation by OCCRP and its Bulgarian member center, Bivol,… Read More

Authorities to look into reports mafia used Malta banks in EU funds scam

The authorities will be looking into reports that banks in Malta were used by the Italian mafia in a massive operation in Sicily that defrauded the European Union of millions of euros in funds for farmers, a spokesman for the Foreign Ministry said. The public prosecutor in Messina said on… Read More
27th December 2019
Dyncorp International is a US military contractor which has been embroiled in controversies around the world, is controlled by a private equity firm and provides a range of military services including supplying mercenary forces. It established DynCorp Australia in 2004 and public contract data shows that its pickings from the… Read More
20th December 2019
Italian police have arrested 334 mob suspects including police chiefs, lawyers and former MPs in an unprecedented crackdown on the ‘Ndrangheta mafia. The night-time raids, which involved 3,000 police and included arrests in Germany, Switzerland and Bulgaria as well as in Italy, were a huge blow to the ‘Ndrangheta mafia,… Read More
17th December 2019
Mark Scott’s wife, sitting in the spectators’ gallery just behind him, wailed uncontrollably after the New York jury passed down its verdict last month. Bank fraud — guilty. Money laundering — guilty. The 51-year-old Scott, turned out in a smart suit and expensive tan, consoled his wife over the railings. Read More
3rd December 2019
The European Commission has asked Malta to clarify how it intends to address Bank of Valletta’s shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called “golden passport” scheme. Malta, with a population of only 420,000, has sought to attract foreign capital with schemes… Read More
26th November 2019
Racing professionals have reacted with shock to the news that the man behind the leading international racing and bloodstock operation, Phoenix Thoroughbreds, Amer Abdulaziz Salman, was recently named by a defendant in a criminal court in the US, who accused him of involvement in a money-laundering operation. The allegation was… Read More
25th November 2019
Two senior members of the discredited OneCoin cryptocurrency sales network are listed as shareholders of a fledgling Irish cryptocurrency. Peter Shaw and Pehr Karlsson are shareholders in Funlz, which is seeking to develop MingoCoin, a cryptocurrency linked to a new messaging aggregator app. Funlz founder Joe Arthur said that the… Read More
12th November 2019
With flames leaping from the stage, ear-splitting music pumping from loudspeakers and a screaming crowd, the sell-out event at London’s Wembley Arena seemed more like a rock concert than a financial sales conference. But as Alicia Key’s Girl On Fire began to fade, an electrified silence swept across the auditorium… Read More
5th November 2019
The trial of a US lawyer accused of laundering some of the proceeds from the OneCoin cryptocurrency “scam” has begun in New York. Mark Scott is accused of routing approximately $400m (£310m) out of the US while trying to conceal the true ownership and source of the funds. Some is… Read More
17th July 2019
Bulgaria’s finance minister apologized to the country on Tuesday after admitting hackers had stolen millions of taxpayers’ financial data in an attack that one researcher said may have compromised nearly every adult’s personal records. The breach of servers at the tax agency (NRA) happened at the end of June and… Read More
12th July 2019
Credit Suisse is ensnared in a Swiss criminal probe into alleged money laundering involving a criminal organization and the illegal drug trade. The Swiss attorney general has named the investigation “Bulco”: prosecutors are investigating alleged money laundering by a criminal organization, weekly Schweiz am Wochenende (in German) reported. The… Read More