Sun, Nov 08 2009

The state freezes 828 000 leva of former deputy prime minister's assets

Tue, Mar 31 2009 12:53 CET byPetar Kostadinov 869 Views
The state freezes 828 000 leva of former deputy prime minister's assets

Alexander Tomov

Photo: Krassimir Youskeseliev

The Criminal Assets Forfeiture Commission (CAFC) has imposed a ban on funds and property worth 828 000 leva owned by Alexander Tomov, president of CSKA Sofia football club and former deputy prime minister and executive director of Kremikovtzi steel plant, the CAFC said on March 31 2009.

Tomov is currently under investigation for embezzlement during his time with Kremikovtzi and CSKA, periods that served as the reason for freezing his assets.

The CAFS concluded that the income reported by Tomov and his wife did not correspond with the value of the property and assets the couple owned. According to the SAFC, the difference was about 5000 minimum salaries.

Tomov's assets will be confiscated if the charges against him are proven in court. On February 6 2009 Tomov and three others were accused of embezzling 36 million leva from Kremikovtzi and CSKA.

Both the plant and the football club were owned by Indian tycoon Pramod Mittal who put Tomov in charge of his operations in Bulgaria. Later, Kremikovtzi and CSKA entered a deep financial crisis. The club was recently sold to Bulgarian refuse collecting company Titan AC for 10 million euro, according to Tomov's words. Kremikovtzi, on the other hand, is in deep financial collapse.

Tags:
Asset Forfeiture Commission (AFC) , Alexander Tomov

Write comment

Name:Comment:

Generate new code
Send your comment
CSKA Sofia and Kremikovtzi fund used for extraneous deals - prosecutor Djambazov

Elaborate scheme were said to have drained CSKA Sofia and Kremikovtzi funds for extraneous deals.

Trial of CSKA Sofia president for embezzling 36 million leva starts

CSKA's previous owner Vassil Bozhkov could be on the list of 15 witnesses questioned in court on May 27

Titan Sport acquires CSKA Sofia

The deal worth 10 million euro pits Titan as CSKA's new owners. A clause in the contract reveals that until March 31, Titan are required to meet all current debts accumulated by the club

Former CSKA president charged with embezzling 36M leva

Alexander Tomov, former president of CSKA Sofia football club, has been charged with embezzlement of a total of 36 million leva, Bulgarian news agency BTA quoted prosecutor Bozhidar Djambazov as saying on January 12 2009. Tomov was indicted on two separate charges, Djambazov said. The first one is for embezzlement of funds from CSKA Sofia football club and the second one of embezzlement of funds from the steel-plant Kremikovtzi, where Tomov was chief executive before resigning in February 2008.

More in this category

Influenza update: Sofia schools suspend classes

Kindergartens to be dealt with on a case-by-case basis and universities to decide for themselves whether to suspend classes.

Sliven police capture illegal immigrants bound for Greece

Five illegal immigrants from Iran and Iraq caught by Bulgarian police in Sliven.

Deputy head of veterinary service arrested on bribery charge

Leonid Lavchev sent an intermediary to collect 1000 leva from a dairy farm in Haskovo, investigators say

Former cabinet minister investigated for alleged embezzlement, malfeasance

Former labour minister Emilia Maslarova follows the example of Socialist party leader and former prime minister, Sergei Stanishev, in requesting that her MP immunity is lifted

Influenza update: sixth death in Bulgaria, Sofia schools face suspended classes

Health Minister: Influenza strain is not seasonal flu, it is swine flu. More than 100 000 Bulgarians are down with the H1N1 strain.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.