Owner of Robbed Sofia Safety Vault Remains in Jail

The safety vault, robbed in downtown Sofia in the wee hours of May 2, was one of the oldest and considered very secure. Photo by BGNES

The Sofia Court of Appeals ruled Thursday permanent detention for the owner of the safety vault in downtown Sofia, which was robbed in the wee hours of May 2.

The magistrates based the decision on the grounds Borislav Ralchev can commit another crime if released.

Ralchev is charged with illegal bank activities for a total of BGN 250 000. He was arrested one day after the robbery. The probe revealed he had filed for bankruptcy and has a debt amounting to BGN 1 M. The failed businessmen collected money from customers without giving them invoices in exchange for high monthly interest rates.

Ralchev requested his release during the Thursday court session with the motives he needed to pay back his creditors and take care of his 4-year-old child, but they were rejected by the magistrates.

After the session ended, the safety vault owner stated media was manipulating his creditors. His lawyer threatened to take the case to the Supreme Judicial Council over discrepancies in the protocols from the probe.

During the first court session, Ralchev told the judge he failed to give customers their money back over hardships generated by the financial crisis.

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