Bulgarian Agency Approves Gambling Boss’ Illegible Financial Statements

Atanas Tchobanov

For three years now, the “Eurofootball” and “National Lottary” companies, affiliated with the gambling boss Vasil “The Scull” Bozhkov, has been submitting totally illegible annual financial statements to the Registry Agency. The statements do not give any idea of what the revenues, costs and profits are. The law requires the Registry Agency to return such documents and request legible ones, but in Bozhkov’s case, it does not.

Bivol analyzed several documents available in the Commercial Register. All of them contain unreadable data in relation to the figures in the requested financial statement and do not allow verification in accordance with Art. 21 of the Commercial Register Act.






According to Art. 10 and Art. 11 of the same Act, the documents should be publicly available and accessible to everyone free of charge. In reality, however, the documents exist, but no data are available.

ГФО на Национална лотария за 2017 г.

The Registry Agency did not respond to our query as to who was the employee who approved the entry of these financial statements. There is no indication in the Commercial Register that Eurofootball’s and National Lottary annual financial statements have been returned with instructions to correct the irregularities and make legible copies.

Нечетлив ГФО на Еврофутбол за 2016 г.

The majority shareholder in Eurofootball Ltd. is Eurosudruzhie (Euro Association) Ltd., which in turn is a majority shareholder of Vabo Systems Ltd, which is owned by Nove Internal of Vasil Krumov Bozhkov.

The majority shareholder in National Lottary is Nove Development EOOD owned by Nove Internal of Bozhkov.

In 2009, US interim Chargé d’Affaires in Sofia, John Ordway, has sent a classified diplomatic cable to Washington, identifying Vasil Bozhkov as “Bulgaria’s most infamous gangster”:

(C) Bulgaria’s most infamous gangster is Vasil Krumov Bozhkov, aka “the Skull.” Bozhkov founded his first company in 1990 before creating his current business empire, NOVE HOLDING, comprising over 30 companies and numerous subsidies. Bozhkov, whose wealth is valued at USD 1.5 billion, is one of the richest men in Bulgaria and almost made the top 50 richest Eastern Europeans list in 2008. He is now slowly moving out of the organized crime business and primarily owns casinos, hotels, and media outlets. However, he is still reportedly active in money laundering, privatization fraud, intimidation, extortion, racketeering, and illegal antique dealing. He maintains close relationships with many former government officials (Ref B).


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