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 the State-owned Bulgarian Development Bank (BDB). Prime Minister Boyko Borisov… Continue Reading…
14 февруари 2020
Stanko Stankov, owner of the infamous company Bulmarket, whose train tanks exploded near the Bulgarian village of Hitrino, causing fatalities, injuries and material damage, has purchased life insurance policies for his workers for his own benefit and has personally collected… Continue Reading…
FIBANK • Investigations • Leading
9 февруари 2019
A private law enforcement agent (PLEA) is once again requesting a freeze on the accounts of the Bulgarian First Investment Bank (FIB or Fibank) once the lender lost its case in the Supreme Court of Cassations (SCC). Per the Court’s… Continue Reading…
24 ноември 2018
Prosecutor General Sotir Tsatsarov literally mocked the public. He promised to reveal the ownership of the company “Yulen” but did not do so. Nevertheless, he revealed that the Prosecutor’s Office is either incompetent or providing a cover-up for the hidden… Continue Reading…
FIBANK • Investigations • Leading
22 август 2017
The accounts of BULMARKET RAIL CARGO, whose tanks exploded in the Bulgarian village of Hitrino, causing fatalities and material damage, have been completely emptied. The main creditor of the company – First Investment Bank (FIB) – is not responding to… Continue Reading…
Comments • FIBANK • Leading • The "Bad Apples" Banks
25 януари 2017
Disclosure of the assessment of the European Commission (EC) of the stress tests of Bulgarian banks would undermine the protection of the financial, monetary and economic policy of Bulgaria. This is what the EC refusal letter states in response to… Continue Reading…
FIBANK • Investigations • Leading • The "Bad Apples" Banks
25 януари 2017
The company “Bulmarket DM” Ltd., whose cargo train exploded Saturday morning in the Bulgarian village of Hitrino, inflicting huge damage and causing numerous fatalities and injuries, is owned on paper by the unemployed Cypriot national Georgios Georgiou. The man has… Continue Reading…
Comments • FIBANK • Leading • The "Bad Apples" Banks • The B-files
25 януари 2017
Nearly two years after Bivol’s publications on the draining of First Investment Bank (FIB ) by connected parties, Bulgarian prosecutors issued a decree confirming the facts, but still refusing to launch pre-trial proceedings. Ironically, according to Bulgarian Capital daily, Prosecutor… Continue Reading…
FIBANK • Investigations • Leading • The "Bad Apples" Banks
28 април 2017
An offshore bank with a Hungarian owner has helped to launder the millions of euro stolen from Romania. This is the reason why accounts of Bulgarian private lender FIB were frozen a few days ago. The money has been used… Continue Reading…
Comments • Leading
2010 Central Bank Report Reveals Serious Violations in Unicredit Bulbank
4 декември 2018
About a year and a half ago, one of the largest banks in Europe – UniCredit – unprecedentedly increased its capital to offset huge deficits due to piled up to bad credit. The cost for the Bank’s shareholders was close… Continue Reading…
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