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Investigations

    DFZInvestigationsLeading

    Part Two

    Son-in-Law of Bulgarian Small Town Mayor Absorbs EU Subsidies after Being Sanctioned for Abuses

    Dimitar Stoyanov 25 September 2020
    Dimitar Stoyanov
    25 September 2020
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  • InvestigationsLeading

    FinCEN Files: State-controlled Bulgarian Bank Processes Transactions Linked to Gangsters and Arms Trafficking for Islamic State

    Atanas Tchobanov 23 September 2020
    Atanas Tchobanov 23 September 2020

    An offshore company with an account in Piraeus Bank paid USD 31 million to another offshore company with an account in the State-controlled Bulgarian Development Bank (BDB). The first offshore …

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  • DFZInvestigationsLeading

    Part I

    Small Town ‘Gerbonomics” – Relatives, Nepotism and Syphoning of EU Funds

    Dimitar Stoyanov 6 September 2020
    Dimitar Stoyanov 6 September 2020

    An interesting business network intertwining family and party connections has been woven in Bulgaria’s historical town of Kotel. Relatives of Mayor Kosta Karanashev and municipal officials of the ruling party …

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  • DoganserailInvestigationsLeading

    Bulgarian Coast around Dogan Seraglio Illegally Buried under Concrete and then Built-up

    Екип на Биволъ 23 August 2020
    Екип на Биволъ 23 August 2020

    An on-location inspection by Bivol found that concrete had been poured on the coastline on the northern side of Cape Chukalyata in Rosenets Park near the Black Sea city of …

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  • InvestigationsLeading

    Privatized Bulgarian Sea

    Екип на Биволъ 17 August 2020
    Екип на Биволъ 17 August 2020

    Article 18 of the Bulgarian Constitution and Article 12 of the Waterс Act stipulate that the seabed is а public state property and the State has sovereign rights. However, at …

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  • InvestigationsLeadingThe "Bad Apples" Banks

    Maduro’s USD 158m ‘Mature’ in Bulgaria’s Investbank

    Николай Марченко 15 August 2020
    Николай Марченко 15 August 2020

    Colombian billionaire Alex Saab is the alleged owner of the frozen in Bulgaria Venezuelan assets. Saab was detained in June in Cape Verde on an international arrest warrant from the …

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  • InvestigationsLeading

    Bulgaria’s Competition Watchdog Allows Purchase of Bank Shares at above Market Price

    Николай Марченко 11 August 2020
    Николай Марченко 11 August 2020

    The Bulgarian Commission for Protection of Competition (CPC) failed to discover any evidence of a monopoly in the acquisition of part of the capital of First Investment Bank (FIB) by …

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  • InvestigationsLeading

    Sofia Airport Fires Employee for Commenting ‘Resign!’ under PM’s Livestream

    Николай Марченко 27 July 2020
    Николай Марченко 27 July 2020

    Sofia Airport has fired a “disloyal to the government” employee for commenting on the resignation of Prime Minister (PM) Boyko Borisov, which thousands of protestors in Bulgaria are demanding for …

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  • InvestigationsLeading

    Shell Company Associated with Controversial Bulgarian Lawmaker Buys Office Building in Thessaloniki for EUR 4m

    Екип на Биволъ 27 July 2020
    Екип на Биволъ 27 July 2020

    Bulgarian company Advance Creative Group was established in September 2018. It paid EUR 4 million in December 2018 for an office building on the prestigious “Ionos Dragumi” street in Thessaloniki. …

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  • InvestigationsLeading

    Bulgarian Ethnic Party Distributes EU Funds to Relatives

    Atanas Tchobanov 21 July 2020
    Atanas Tchobanov 21 July 2020

    An outrageous document signed by Atije Alieva-Veli, the former long-time Deputy Director of the State Fund Agriculture (SFA), the body in charge of distributing European Union (EU) funds for agriculture, …

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