Featured Bulgaria

EU pressures Malta over Bank of Valletta ‘golden passport’ clients

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

Phoenix Thoroughbreds owner denies money-laundering allegations

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

Leading OneCoin backers linked to Irish cryptocurrency MingoCoin

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
7th June 2019
The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More
15th May 2019
Bulgarian Agriculture Minister Rumen Porozhanov resigned on Tuesday, the latest high-level official to step down in scandals involving purchases of luxury properties and the building of guest houses with EU aid for private use. Porozhanov quit two weeks after prosecutors launched a large-scale probe into possible fraud with EU rural… Read More
30th November 2018
AP — A key broker of the latest deal to end South Sudan’s civil war diverted European weapons to South Sudan’s military despite an EU arms embargo, a new report says. It also asks how a U.S. military jet ended up deployed in South Sudan… Read More
6th November 2018
Bulgaria has seized more than $1.35 million in fake banknotes and charged three men suspected with membership of an organised crime ring making counterfeit bills, prosecutors said on Monday. The three were arrested in the Black Sea city of Varna after printing presses and equipment for the production of counterfeit… Read More
25th October 2018
Police have seized millions of fake euros and a high number of US dollars that were produced in an illegal print shop located in the basement of a hotel. The stash comprised EUR 11 million and USD 1.7 million in counterfeit 50, 100 and 500 euro banknotes, as well as… Read More
9th October 2018
AP — Bulgarian police are investigating the rape and slaying of a female television reporter whose body was dumped near the Danube River after she reported on the possible misuse of European Union funds in Bulgaria. Authorities discovered the body of 30-year-old Viktoria Marinova on Saturday… Read More