European Arrest Warrant Issued for Daughter of Former Corpbank Majority Owner

European arrest warrant was issued for Radosveta Vassileva the daughter of the former banker and majority shareholder of Corporate Commercial Bank, Tzvetan Vassilev. She has been circulated as a wanted person by the Bulgarian authorities too. Radosveta Vassileva is charged with money laundering amounting to over 2,5 million BGN. Because of the charges, her mother, also accused in the CCB siphoning off case, wrote an open letter to President Roumen Radev, in which Tsvetan Vassilev's wife expressed indignation about the actions of the prosecutor's office.

According to the investigation, Radosveta Vassileva has bought an apartment near Varna in late 2013. The money for the purchase of the property was donated by her father, banker Tsvetan Vassilev, who is acused of the collapse of CCB. The amount was about 2.5 million BGN

According to the prosecution, Radosveta Vassileva knew the money was from criminal activity

The prosecutor's office specified that they had previously sent two summons to the family address in Sofia on August 2 and 7. As Radosveta Vassileva was not found in the country, a statewide warrant and a European Arrest Warrant were issued.

Tsvetan Vassilev's wife sent an open letter to President Roumen Radev. In it, she defines the money laundering charges against her daughter as ridiculous. She also says they only come a few days after Tsvetan Vassilev sought US protection under the Magnitsky Act. Vassilev's wife also writes that her daughter has been living abroad for three years and can not get the summons sent by the prosecution.

Moreover, the court has not yet proven the criminal origin of money. Antoaneta Vassileva is also accused of money laundering in absentia and has been remanded. The Prosecutor's Office stated that the actions taken against Radosveta Vassileva are in accordance with the provisions of the Penal Procedure Code.

CCB (Corpbank) was hit by a run on deposits and suspended all operations on June 21, 2014. The Bulgarian National Bank revoked its licence on November 6, 2014, when it found that the bank's own funds amounted to minus 3,700 million BGN and its assets were impaired by 4,222 million BGN. On April 22, 2015, Sofia City Court declared Corporate Commercial Bank (CCB) insolvent and ruled the termination of its activities.

Tzvetan Vassilev, former CCB majority shareholder, has been charged on 76 counts, including leading a criminal group and very serious embezzlement. He has been hiding from Bulgarian justice in Serbia since 2014.