The Sofia City Prosecutor’s Office has announced its intention to request that Gaitanski be kept in custody beyond the initial 72-hour period. A hearing to determine his continued detention is scheduled for Monday at the Sofia City Court.
During this hearing, the court will assess the risk of Gaitanski fleeing the investigation and evaluate whether there is sufficient evidence to support the prosecution’s claim that he, in collusion with Mavrodiev, embezzled nearly 150 million leva from a loan provided by BDB.
Investigators allege that a portion of the misappropriated funds was used to purchase luxury vehicles, and that 30 million leva of the loan was transferred to a company connected to Gaitanski.
This transfer was reportedly used to settle debts owed by TPP-Varna to “Commercial Bank.” TPP-Varna is known to have ties with Ahmed Dogan, the honorary chairman of the Movement for Rights and Freedoms (DPS).
In addition to the allegations against Gaitanski, lawyer Ivan Georgiev was also detained in connection with the case.
Earlier today, Georgiev was released on bail of 50,000 leva after spending 24 hours in custody. His role in the alleged misappropriation remains under investigation, and authorities are continuing their search for Stoyan Mavrodiev, who has yet to be located.
The case has garnered significant public and media attention due to the high-profile nature of the individuals involved and the substantial amount of money in question.
The BDB, a state-owned financial institution, has faced scrutiny and criticism in recent years over its lending practices and governance. This latest scandal only adds to the growing concerns about transparency and accountability within the bank.
Public reaction to the unfolding events has been one of shock and disbelief. Many are calling for a thorough and impartial investigation to ensure that justice is served and that those responsible for any wrongdoing are held accountable.
The allegations of misappropriation have also sparked debates about the need for stricter regulations and oversight of financial institutions in Bulgaria to prevent similar incidents in the future.
As the investigation continues, all eyes will be on the Sofia City Court hearing on Monday, where the decision regarding Gaitanski’s continued detention will be made.
The outcome of this hearing could have significant implications for the ongoing investigation and the broader efforts to address corruption and financial misconduct in the country.
In the meantime, the Sofia City Prosecutor’s Office has pledged to pursue all leads and gather comprehensive evidence to support their case.
The public awaits further updates on the progress of the investigation and the potential implications for the individuals involved and the financial sector in Bulgaria.