CSKA Sofia and Kremikovtzi fund used for extraneous deals - prosecutor Djambazov
Funds and real estate owned by steel mill Kremikovtzi and football club CSKA Sofia were said to have been used in what was described as complicated schemes to fund extraneous deals.
Prosecutor Bozhidar Djambazov, told Bulgarian National Radion (BNR ) that "broadly speaking, this was about diversion of funds, in the form of both money and property, property of CSKA and Kremikovtzy, which had not been used as intended."
"Money owned by CSKA Sofia and which was intended for club activities such as salaries and the purchase of players, was not used in this way. Instead, it was used to finance transactions that had nothing to do with the activities of the club. Other such transactions were financed through the transfer of property that was owned by Kremikovtzi," Djambazov said.
According to Djambazov, this happened when both CSKA Sofia and Kremikovtzi were owned by Indian businessman Pramod Mital and managed by Alexander Tomov,
A bank loan, signed by CSKA and intended to get it out of its financial disaray, was secured against property owned by Kremikovtzi, Djambazov told BNR. "When CSKA could not pay off its debt to the bank, it used the security that Kremikovtzi had provided," Djambazov said.
As The Sofia Echo reported earlier, former CSKA president Tomov is currently on trial for embezzlement, with more than 800 000 leva worth in real estate owned by Tomov frozen.
Bulgarian broadcaster Mediapool said that on April 5, the Bulgarian socialist party Euroleft announced its leader Alexander Tomov would travel to London at the invitation of the committee on economic policy, labor and national resources of the Socialist International to discuss challenges facing the global economy.
Prosecutor Bozhidar Djambazov, told Bulgarian National Radion (BNR ) that "broadly speaking, this was about diversion of funds, in the form of both money and property, property of CSKA and Kremikovtzy, which had not been used as intended."
"Money owned by CSKA Sofia and which was intended for club activities such as salaries and the purchase of players, was not used in this way. Instead, it was used to finance transactions that had nothing to do with the activities of the club. Other such transactions were financed through the transfer of property that was owned by Kremikovtzi," Djambazov said.
According to Djambazov, this happened when both CSKA Sofia and Kremikovtzi were owned by Indian businessman Pramod Mital and managed by Alexander Tomov,
A bank loan, signed by CSKA and intended to get it out of its financial disaray, was secured against property owned by Kremikovtzi, Djambazov told BNR. "When CSKA could not pay off its debt to the bank, it used the security that Kremikovtzi had provided," Djambazov said.
As The Sofia Echo reported earlier, former CSKA president Tomov is currently on trial for embezzlement, with more than 800 000 leva worth in real estate owned by Tomov frozen.
Bulgarian broadcaster Mediapool said that on April 5, the Bulgarian socialist party Euroleft announced its leader Alexander Tomov would travel to London at the invitation of the committee on economic policy, labor and national resources of the Socialist International to discuss challenges facing the global economy.