Bulgaria: Interior Minister claims amount allotted for road construction under Borissov’s govt misused to build luxury villas

Providing light on the matter, he then added that BGN1bn was transferred to the bank accounts of the firms and individuals who at that time withdrew the money and then used it to renovate or build their luxury homes, villas, residential complexes and other buildings in the capital city of Sofia.

By
Viktor Georgiev
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Bulgaria: Interior Minister claims amount allotted for road construction under Borissov's govt misused to build luxury villas
Bulgaria: Interior Minister claims amount allotted for road construction under Borissov's govt misused to build luxury villas

Sofia, Bulgaria: The Interior Minister of Bulgaria, in its recent statement, has made a huge claim putting light on the wrongdoings of the former government. Minister Boyko Rashkov stated that nearly BGN1bn (€511.3mn) funds which were provided by the Boyko Borissov-led former Bulgarian administration for the repairing of the roads, were utilized on the construction of private luxury properties. 

The remark was made by the Minister yesterday, June 9, 2022. Providing light on the matter, he then added that BGN1bn was transferred to the bank accounts of the firms and individuals who at that time withdrew the money and then used it to renovate or build their luxury homes, villas, residential complexes and other buildings in the capital city of Sofia.  

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Although, the Minister denied sharing the information about those firms and individuals who were involved in this scam. 

He stated, “The Road Infrastructure Agency (API) paid a total amount of BGN400mn to the state-owned firm – Avtomagistrali for lots 7, 8 and 9 of the Hemus motorway without a detailed development plan. Out of this total amount, a total of BGN84.5mn was then transferred in advance to another firm for Lot 8, which further used BGN27mn to buy a property in the centre of Sofia where construction works are currently going on“. 

Avtomagistrali firm then transferred BGN15mn to another firm and this money was then used in the construction of the buildings, the Minister then revealed. Adding to the statement, the Bulgarian Minister claims that BGN1mn were directly transferred to the bank accounts of the owners of the unnamed company as a dividend, and a few parts of this amount was then transferred to United Arab Emirates accounts. 

A total of BGN12mn amount was allotted for Lot 8 and paid to the company, which then transferred BGN8.5mn to a private account. As per the Minister, the account was of the individuals who penned down a contract with the firm, although the agreement was later terminated. 

Pictures were also shared by the Minister regarding the properties acquired with money for road construction.Â