Parallel world of Bulgarian Madoff: Lies about Delyan Peevski and stealing assets

Tsvetan Vassilev takes a look at distorting mirror of CorpBank pyramid, once again tries to hide he is a lobbyist for Russia

Tsvetan Vassilev

Financial fraudster Tsvetan Vassilev crawled out of his refuge in Belgrade and started explaining, probably under the influence, stuff about the collapse of his CorpBank pyramid. Delivering textbook fake news, he dragged the “evil Prosecutor’s Office” and the name of the oligarchy’s eternal enemy, MP Delyan Peevski, into it.

However, his mind went completely blank when it came to the fact that Peevski and his family have long repaid their loans to the lender and that the lawmaker and publisher of newspapers like Telegraph and Monitor is not a side to any court cases involving CorpBank assets.

Furthermore, his amendment to the Bank Insolvency Act, which he drafted alongside his MRF colleagues Hamid Hamid and Yordan Tsonev and which became known as the Peevski Act, managed to stop the secondary plundering of CorpBank. It untied the hands of its bankruptcy administrators to return nearly BGN 1.5bn to the lender’s insolvency estate. They have already operated two partial accounts, returning money to depositors defrauded by Tsvetan Vassilev, both state-owned companies and citizens.

One fact speaks loudly about the morals of the Bulgarian Madoff. He tried to get his company Bromak, a majority owner of CorpBank, in line for repayment along with all the defrauded depositors. In other words, he tried to get money again, this time from the BGN 1.5bn collected by the bankruptcy administrators.

As he lives in a parallel reality, fugitive banker Tsvetan Vassilev omitted the fact that he tried a whopping three times to gift his Russian benefactors lucrative assets worth a combined BGN 1bn and acquired with money stolen from CorpBank depositors. The first try was courtesy of the “€1 gang” created by Orthodox Russian oligarch Konstantin Malofeev and led by his protégé – Belgian with Russian passport Pierre Louvrier. Then came Malofeev’s former bodyguard and trusted operative Dmitry Kosarev. Finally, it was the turn of the malevolent Project Bulgaria, created by Russophile №1 in Bulgaria Nikolay Malinov, who is currently indicted for spying in favour of Russia. Key roles in this plan, which was designed to steer the country away from its EU and NATO allegiance and back into the Russian fold, played Malofeev and his Russian intelligence friend Gen. Leonid Reshetnikov. Those two friends of Vassilev’s have since been banned from entering Bulgaria for a period of 10 years.

Some time ago, the reputable US newspaper the New York Times revealed Malofeev attempted to take over the military plant Dunarit. However, Tsvetan Vassilev beat him to it, using his pawn Emiliyan Gebrev. As the head of the plant, Gebrev leaks NATO secrets to Malofeev and Reshetnikov, while the fugitive banker regularly receives money from a Romanian bank account of the plant, the Specialised Prosecutor’s Office has shown. This source of money helps Tsvetan Vassilev live a life of luxury in Belgrade.

Vassilev also tried to deceive his audience with the old smokescreen about a connection between Peevski and Russian in the South Stream natural gas pipeline project. Unfortunately for him, reports showed last year that the fugitive banker is a Russian lobbyist. Vassilev met personally with one of the most important Russian emissaries – Alexander Babakov – to discuss South Stream. The meeting took place on 22 November 2013 in Tsvetan Vassilev’s office in Sofia. Babakov was there with his security detail, as evidenced by the visitor’s log. The French investigative website Mediapart exposed the way Malofeev and Babakov lobbied for loans to be extended to friends of Russia, including a multi-million-euro credit for Marine Le Pen’s Front National party via a Cyprus offshore company named Vernonsia Holdings Ltd.

The only difference this time is that the Fake News Factory has reversed the direction of dissemination. The financial fraudster’s lies disguised in the form of an interview were first published by the website Liberta and only then spread by his unofficial press office Frognews, controlled by former State Security agent Academician. On cue, Ognyan Stefanov published the same interview under a different headline, in which he expounded on Vassilev’s talking points, probably after receiving instructions from Belgrade over the phone. These are Tsvetan Vassilev’s favourite instruments for peddling disinformation and crying thief when he is the thief, while looking at the distorting CorpBank mirror.

Also proven false were his assertions about the Magnitsky Act, his fables about RICO, as well as other recycled falsehoods he used to try and make himself out to be a victim, shield his own greed from the world and ultimately hide the fact that he defrauded unsuspecting depositors out of BGN 5.6bn.

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