Bankrupt Bulgarian Bank Head to Run for President

Ventsislav Yosifov is former husband of Socialist leader Sergey Stanishev's current girlfriend - Monica Yosifova, who made headlines earlier this year by giving birth to the former prime minister's first child. File photo

Ventsislav Yosifov, former director of First Private Bank, which went bankrupt in 1999, will run for president in the elections in October, it emerged on Wednesday.

Yosifov is former husband of Socialist leader Sergey Stanishev's current girlfriend - Monica Yosifova, who made headlines earlier this year by giving birth to the former prime minister's first child.

He has picked for vice president Emilian Dimitrov, a colleague of his from his term in the banking sector, who also was director at First Private Bank.

Ventsislav Yosifov and nine of his associates, including Dimitrov, were accused in 2003 of illegally extending loans in the period from 1991 to 1996 that are said to have led to First Private Bank's bankruptcy.

They however were released on bail for BGN 20,000 and were never sentenced.

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