Have you heard of the Cypriot citizen Niki Tenekedzi? You have not and you would have never heard of him if his offshore “Kolvik Services” had not won a public tender for 500 million levs to build 60 kilometers of the “Hemus” highway through his Bulgarian company “PST Group”. Another 300 million levs will be given to a firm associated with the close to Bulgarian Prime Minister Boss of “Lukoil”, Valentin Zlatev.

“Congratulation” to Niki! Documents published by Bivol show that he bought “Kolvik Services” from the infamous Georgios Georgiou in February 2014. Two months later, on April 14, 2014, “Kolvik” was listed as the new owner of “PST Group”. The company is part of “Holding Patishta” (Holding Roads) of alleged Bulgarian organized crime figure Vasil Bozhkov nicknamed “The Skull” that was building the “Trakiya” highway. “PST” is used as collateral in First Investment Bank (FIB) against a debt in the amount of 55 million levs.

Georgios is also a destitute Cypriot national, who controls assets in the amount of over 1.2 billion levs, all credited by FIB. On paper, he is the largest foreign investor in the country. In fact, Georgios is simply a dummy for the majority shareholders of the bank – Tseko Minev and Ivaylo Mutafchiev. These facts, revealed by Bivol long ago, have not alarmed the central bank (Bulgarian National Bank, BNB), the Financial Supervision Commission (FSC) and the Prosecution. Nobody sees a problem in the use of the huge amount, collected from depositors, to credit the private business of the owners of the financial institution.

What actually happened with “PST Group”? The period when “Kolvik Services” changed its owner and acquired “PST Group” coincides with the time when the relations between the owner of the now-failed Corporate Commercial Bank (CCB) Tsvetan Vasilev and controversial lawmaker Delyan Peevski began to cool and the corpulent MP-businessman diverted his interest towards another financial donor – FIB. Several months later, CCB was liquidated and FIB was rescued with State money. It is fact that the companies linked to Deliyan Peevski transferred their loans precisely in FIB.

The speedy and non-transparent awarding of the huge contract for “Hemus” highway to a company associated with Peevski and FIB confirms once again the nature and the core of the Coalition #WHO between PeevSki and Buddha, about which Bivol has been writing for over a year and has proven its existence with documents. As former Prime Minister Stanishev said – “this is a clear symbiosis!”

Fledgling multimillionaire Niki Tenekedzi, who will build “Hemus”, is for Delyan Peevski what Georgios Georgiou is for Tseko Minev and Ivaylo Mutafchiev – just a dummy.


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