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EU Court of Justice confirms that property of Bulgarian banker Tsvetan Vasilev was legally confiscated

Photo: EPA/BGNES

The EU Court of Justice has confirmed that the property of Bulgarian banker Tsvetan Vasilev was legally confiscated. The magistrates in Luxembourg approved the decision of the Bulgarian Commission for Anti-Corruption and Illegal Assets Forfeiture that legal proceedings under civil seizure of criminal assets do not depend on current criminal cases. In 2018 judge Katerina Encheva from Sofia which was considering a claim for over EUR 1.1 billion against the defendant Tsvetan Vasilev surprisingly asked the European magistrates whether the actions of the Bulgarian Anti-Corruption Commission were lawful. As a result, dozens of cases were frozen until the reply of the EU Court in Luxembourg. 





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