Serbian press: Tsvetan Vassilev is a fraudster hiding out in Belgrade

Last week, in two Serbian publications the name of Tsvetan Vassilev is quoted as an example of fraudster who has been living in Serbia since 2014. Vassilev drove to bankruptcy the glass factory in Paracin and is now sought by Interpol. The mass media even note that the fugitive banker is an illustration to the saying “Take the money and run!”

In an extensive material released on Friday by the Internet edition “Vesti online” it is said that Bulgarian oligarch Vassilev has brought once famous glass factory in the city of Paracin to complete ruin and tried to steal € 47m via fictitious loans and investments. When he was the owner the debts of the factory soared 70 times as out of 20 furnaces bought in the 1970s and 1980s which were the main “power engines” of the factory only two keep on working while the rest are either closed or sold for scrap. Besides, 80 workers are still unemployed despite the fact that the court overturned the requested bankruptcy of the enterprise.   

Zoran Zivkovic, former Serbian PM, also commented before influential newspaper Danas the situation with Tsvetan Vassilev and reminded of the latter’s affair and the Red Notice issued by Interpol noting that Vassilev has been living in Serbia since 2014 notwithstanding that Bulgaria demanded his extradition owing to a series of criminal offences – embezzlement of about            € 1,3bn and his considerable “contribution” to the most acute bank crisis in Bulgaria (the collapse of the Corporate Commercial Bank – Ed.’s note).

The newspaper also reminds that Tomislav Nikolic, ex-president of Serbia, admitted before his arrest that Tsvetan Vassilev made a donation to the foundation managed by his spouse Dragica. A criminal case is brought against Vassilev in Serbia too, namely because of the Paracin factory bankruptcy and its plundering. 

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