Bulgaria Police Hits Another 'Money Lenders' Gang

Bulgarian commandos have made two arrests during a special police operation, code-named “The Money Lenders”, in a Yambol city neighborhood, police announced.

An owner of a pawn house, 39, and one of his employees have been detained. During the search of the owner’s office police found out that the company has no permit for the banking services it offers. A number of contracts for loans, debit cards and lists of people, who have been granted loans have been seized.

The two men have been arrested for twenty-four hours.

Preliminary information says that the two men, who have criminal records, have been involved in this business for a long period of time and have granted loans worth BGN 150 000 over the last two years. The interest rates ranged between 30-100%.

This is the second money-lenders gang that police cracks down on over the last two weeks.

During police raids in the neighborhood 'Nov put' in the northwestern Bulgarian city of Vidin last week, four people were detained.

Bulgarian commandos confiscated two laptops with electronic data for giving out illegal loans, blue prints of agricultural land plots, notarial acts for real estate in the 'Nov put' neighourhood, guarantee cards for all kinds of electric equipment that has been pawned in the pawn shops owned by the criminals.

'The Money Lenders' are also accused of having illegally acquired agricultural plots of land that they have later used to apply for EU funding.

Over BGN 50 000 have also been confiscated during the special operation of the Bulgarian police.

The detainees are unemployed, yet they own a number of luxury cars and boast a rather high living standard.

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