CSKA football club's former president Alexander Tomov and financial director Alexander Garibov are the targets of an investigation by Sofia city prosecution, a statement published on the website of the Prosecutor-General's Office on June 18 2008 reads.

The investigation is over suspicions of embezzlement of about five million euro from CSKA and Kremikovtzi steelworks. Tomov used to be executive director of Kremikovtzi, the biggest Bulgarian steel maker, currently owned by Indian tycoon Pramod Mittal. The plant is facing a deep financial crisis, the same as CSKA, which is also owned by Mittal.

The pre-trial investigation is a result of the findings made by the State Agency for National Security (SANS). The money in question had been transferred from Kremikovtzi's bank accounts to CSKA's and from there went into the possession of Tomov and Garibov, the statement said.

SANS was asked to check CSKA's finances and find out who currently owned the club by Prime Minister Sergei Stanishev after Europe's football governing body Uefa decided to leave CSKA out of its Champions League tournament next season because of the club's debts. This decision led to Tomov's resignation.  

Sofia prosecutor Roman Vassilev was quoted by Bulgarian news agency Focus as saying that the embezzlement has happened trough bank transfers within Bulgaria, as well as to and from foreign banks.

The investigation was still gathering evidence against Tomov and Garibov, which was the reason why they have not been formally charged so far. Hours after the prosecutors published the statement, Tomov was quoted by Focus as saying that he had nothing to do with any embezzlement. "I will work to prove my honesty," he said.