In the same case, Ivan Georgiev – a representative of the company that received the funds – was brought in as a defendant. He is free on BGN 50,000 bail, and Rumen Gaitanski was also released on BGN 250,000 bail.
According to the prosecutor’s office, Mavrodiev is accused of embezzlement, claiming that after the loan was granted, a significant portion of the funds were diverted to other activities. Part of the money was used to buy luxury cars, and about BGN 30 million was transferred to another company, through which liabilities of the Varna TPP, linked to Ahmed Dogan, were covered.
The investigators indicate that after the utilization of approximately BGN 148.5 million on the loan, subsequent financial transfers and expenses were identified, which are subject to verification.
Mavrodiev has been missing since August 2024, with the prosecution requesting a European Arrest Warrant. In December of the same year, the Sofia Court of Appeal confirmed the decision to issue it, after accepting that there was a risk that he would abscond, as he was not found at his known addresses in Bulgaria.
Who is Stoyan Mavrodiev?
His name has not been at the center of a scandal for a long time, as it was some time ago. That’s why we remind you: Stoyan Mavrodiev is a former CEO of BBR, former deputy of GERB and former chairman of the Financial Supervision Commission (FSC). He was publicly fired as director of the BBR following an order by then-Prime Minister Boyko Borisov.
The reason for the removal of political trust from him was another loan of BGN 75 million, approved by the BBR for a company with modest revenues, owned by a well-known collection firm.
