Bulgaria's Illegal Land Swaps Tied with Energy Tycoon's Deals

Agriculture Minister, Miroslav Naydenov, vows to do his best to not only continue the probe of the illegal land swaps, but stop them for good. Photo by BGNES

The illegal land swaps that brought charges against Bulgaria's former Agriculture Minister, Nihat Kabil, are connected to the business of energy tycoon Hristo Kovachki.

The information was reported by Agriculture Minister, Miroslav Naydenov, who declined to offer more details.

Kabil, who was Minister in the Three-Way Coalition government was charged Thursday by the Prosecutor's office with abuse of power for giving the go-ahead of two illegal deals for forest swaps, which have deprived the State of nearly BGN 116 M. Kabil was released on a BGN 50 000 bail. He claims innocence.

Naydenov says the two swaps involve forests in the winter resort of Borovets, but also added a third one, signed by the now former Head of the State Forestry, Stefan Yurukov, who is also charged with illegal land swaps. The Minister explained the third swap was done under the same scheme as the two of which Kabil is accused.

Naydenov vowed to continue the probe of the swaps, and to bring new charges, but added the huge number will take two cabinet terms while their annulment seems almost a mute point.

The Minister pointed out the new Forest Act will make changing the purpose of lands possible only after their real market value is paid in full.

Kabil is Bulgaria's second agriculture minister from the previous cabinet to be charged with illegal land swapping. In the fall of 2009, Valeri Tsvetanov, who replaced him as agriculture minister in 2008, was also investigated over accusations of murky land deals.

Believed to be one of the richest men in the Balkans, energy tycoon Hristo Kovachki is currently investigated on tax evasion charges.

Kovachki is charged with with tax crimes amounting to BGN 16 M for the 2005-2008 period from four of his businesses. He also denies any wrongdoing.

Kovachki has diverse business interests, ranging from manufacturing to banking and from energy to retail. He 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.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!