An incredible version of where the banker Stoyan Mavrodiev is hiding has surfaced. The former head of the state-owned Bulgarian Development Bank (BDB) was declared a national wanted man after the prosecutor’s office found him in an unsecured loan to the legendary businessman Rumen Gaitanski – Valka in the amount of BGN 150 million.
Here are the revelations reached by “Weekend”:
The scandalous banker Stoyan Mavrodiev, the main actor in the affair with the loan-robbery from the state-owned Bulgarian Development Bank (BDB) in the amount of BGN 150 million, granted without collateral to Rumen Gaitanski – Valka in 2019, has collected a record bribe from BGN 15 million for his participation in the audacious financial fraud with taxpayers’ money.
This is claimed by those involved in unraveling the corruption scheme.
Last week, Mavrodiev and the close to the honorary chairman of the DPS Ahmed Dogan, a businessman with a shadowy sourdough Rumen Gaitanski – Valka were accused by the prosecutor’s office of embezzlement on a particularly large scale and of a series of document frauds, through which almost BGN 150 million allocated by the state-owned Bulgarian Development Bank went into private pockets.
Mavrodiev is the most vulnerable among the defendants, as he was the CEO of BBR and personally approved with his signature the provision of the multi-million dollar loan to Rumen Valka.
The financier risks a sentence of 10 to 20 years in prison and confiscation of his assets if found guilty. Stoyan Mavrodiev has been missing from the authorities for a whole week now, and the assumptions are that he is hiding in Greece, where he owns properties worth several million euros.
The former head of the BBR is said to have bought three luxury villas in the bar village of Posidi on the first arm of Halkidiki with part of the record bribe he received in 2019 to approve the granting of the loan of 150 million leva to a company of Valka .
Mavrodiev’s properties in Greece, purchased in 2020 through an offshore company with a disguised beneficial owner, are believed to be worth over €5 million.
According to the sources, already at the end of last week, Mavrodiev left Greece and went to Istanbul. He is currently either in the Turkish metropolis or hiding in Dubai, where, according to rumors, he bought a luxury apartment for 2.5 million euros in 2022.
In the spring of 2021, a few months after he was removed as CEO of the Bulgarian Development Bank (BDB) by order of the then Prime Minister Boyko Borisov, Stoyan Mavrodiev bought a mansion in Sofia for the impressive sum of BGN 5 million.
The luxurious property of the corrupt financier is part of the 5-star private residential complex with controlled access “Pancharevo Park”, located on the hills above Pancharevo among greenery and pine forests and with a panoramic view of the lake and Lozen Mountain. Mavrodiev’s Tuzar house has an expanded built-up area of 1,200 square meters and a yard of over 4 decares.
An outdoor pool with constant heating, a sauna, a fitness room, a wine cellar and a home cinema are just some of the extras and the daily life of the nimble banker. Mavrodiev’s palace was realized by an Italian architectural studio, and all materials and equipment – window frames, shutters, doors, special flooring, furniture and lighting fixtures – were imported from the Apennines.
Mavrodiev’s neighbor in “Pancharevo Park” is also Adam Sotkov, co-owner of the company “Sveti Georgi Group”, which in 2019 also absorbed a loan of BGN 75 million from BBR with Mavrodiev’s signature.
According to a source from the prosecutor’s office, Mavrodiev’s estate in Sofia was raided by anti-mafia forces last Friday, and boxes of documentation were seized from there. However, there is no official confirmation of the disturbance in the financier’s luxury house above Lake Pancharevo.
“Mavrodiev laundered the funds from the bribe for the loan of 150 million BGN to Rumen Valka in luxury properties, which, however, are not registered in his name. The state prosecution will have the difficult task of catching the money trail – Mavrodiev is a virtuoso in the field of capital wrangling through a string of offshore companies with unidentified owners,” commented someone involved in the investigation against the former CEO of BBR.
Stoyan Mavrodiev, who graduated in finance at UNSS and law at Sofia University, built a short political career after becoming a deputy in the 41st National Assembly from the list of GERB in the fall of 2009. Almost immediately, however, he came into conflict with the then all-powerful person in the party, Tsvetan Tsvetanov.
According to the sources, Mavrodiev was suspected by Tsvetanov that he was the one behind the classified documents against him that appeared in the media at the time – that he had an illegitimate child in Veliko Tarnovo and that his wife was cheating with DANS agent Velin Hadjolov.
In order to stop the tension in the party, after only a few months in the National Assembly, Mavrodiev was appointed chairman of the Financial Supervision Commission – a post he held until 2016.
While regulating and overseeing the financial system in Bulgaria, Stoyan Mavrodiev finds himself at the epicenter of the money laundering trial against Evelyn Banev – Brendo, after it becomes clear that his signature is on the defendant’s powers of attorney along with Brendo’s Desislava Dishlieva and Vladimir Dishliev – father of her murdered husband Konstantin Dishliev.
According to the prosecutor’s thesis, Brendo made 5 payments worth more than BGN 2 million to a Swiss account of the company “Quillin Ventures” in 2004, which were then transferred to “Fidelity Enterprises”, and the money was moved by the authorized Stoyan Mavrodiev. However, the financier never appeared for questioning in the money laundering case against Brendo, and finally the court refused to question him.
Despite being lit as a former financial associate of Evelyn Banev – Brendo, in 2017 Stoyan Mavrodiev was appointed CEO of the state-owned Bulgarian Development Bank. The financier becomes the highest-paid civil servant with a monthly salary of BGN 60,000.
Then the motive of the rulers is that the post that Mavrodiev occupies is extremely important and that the salaries of directors in private banks are similar in size. During his three-year stay as head of the BBR, Stoyan Mavrodiev granted loans to companies in a total amount of almost BGN 700 million.
For the first time, the BGN 150 million loan granted to Rumen Valka’s company became known in 2021, when Rumen Radev’s first cabinet was in power with Prime Minister Stefan Yanev and from the revelations of the then Minister of Economy Kiril Petkov .
According to the statement of the head of the Sofia City Prosecutor’s Office Iliana Kirilova, the investigation against Rumen Valka and Stoyan Mavrodiev has been ongoing for 2 years, before on August 15 of this year. to bring charges.
It is believed that the money from the loan was distributed like this – 30 million BGN went personally to Ahmed Dogan, which was withdrawn in cash and brought to the honorary chairman of the DPS in several boxes; 15 million goes to Stoyan Mavrodiev, and the remaining over 100 million BGN is taken by Rumen Gaitanski.
The stipulation is that in the first 3 years Valka must conscientiously pay at least the interest on the loans, but the tarika, with his typical impudence, decides that this is not necessary at all.
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