Two years ago the fourth biggest bank in Bulgaria – Corporate Commercial Bank- was closed down and then declared bankrupt. Two billion euro was discovered to be missing from the bank. Many customers lost their money. The task of laying bare the truth and of trying to help collect the credits due was assigned to a specialized British company. The worst prognosis and darkest suspicions were proven true: the owner of the bank, Tsvetan Vassilev, used his own bank as his personal pocketbook.
He sneaked out of the country and has been living abroad for two years, with the Bulgarian authorities making attempt after attempt to have him extradited.
The Bulgarian National Bank now has new management, and the Corporate Commercial Bank no longer exists. There are no financial perturbations in the country either and the banking system should now be running smoothly.



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