Bulgaria Wannabe Oligarch Silent on "Untouchable" Links

Believed to be one of the richest men in the Balkans, Kovachki has denied any wrongdoing. Photo by BGNES

Energy tycoon Hristo Kovachki, who is investigated on tax evasion charges, has refused to comment reports of links to the detainees in the latest police raid against organized crime, code-named “The Untouchable“.

Bulgaria's Interior Minister Tsvetan Tsvetanov hinted last week that there is a connection between Kovachki and the sixteen arrested suspects.

Kovachki, who is charged with with tax crimes amounting to BGN 16 M for the 2005-2008 period from four of his businesses, appeared in Sofia City Court on Monday, but scorned the questions of the journalists.

Kovachki, whose party failed to win seats in July's parliamentary election, has diverse business interests, ranging from manufacturing to banking and from energy to retail.

Kovhacki owns the Thermal Plants "Maritsa-Iztok 3" in Dimitrovgrad and "Bobov Dol", several mines, as well as the heating utilities in Vratsa, Burgas, Veliko Tarnovo and Pleven, the grocery chain "Evropa" and the "Atomenergoremont" company.

Believed to be one of the richest men in the Balkans, Kovachki has denied any wrongdoing.

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