Bulgarian Oligarch Refutes Reports of Litex Businesses Sale

Crime | June 1, 2012, Friday // 11:31|  views

Bulgarian businessman Grisha Ganchev has dismissed the charges against him as staged manipulation. Photo by BGNES

Well-known Bulgarian businessman, owner of the Litex group of companies, Grisha Ganchev, has firmly denied he plans to sell his entire business in a year.

The news about Ganchev selling his business was reported Thursday by Darik radio. On Friday he told the Bulgarian Standard daily that this was just a rumor.

"Have you or anyone heard me saying this? Why aren't they providing a recording of my statement? This is just the next staging," said Ganchev, who faces charges of running an organized crime group specialized in tax fraud and issuing a murder threat against the Director of the National Revenue Agency, NRA.

He has also firmly denied the above charges, labeling them a manipulation. Standard quotes people close to the businessman, describing him as someone who loves to bluff in business and in sports.

According to the Darik radio, Ganchev had said that he will also give up on all of his investments in sports.

The prosecuting authority pressed charges against Ganchev Tuesday, while the Chief Directorate for Combating Organized Crime (GDBOP) issued a 24-hour arrest warrant.

However, the businessman spent only two hours and 45 minutes in custody in the early afternoon of May 29.

According to the prosecuting authority, the evidence gathered so far indicates that Ganchev ran the six-strong group of alleged VAT fraudsters that was busted on May 11 after a joint operation of the Chief Directorate for Combating Organized Crime (GDBOP) and the National Revenue Agency (NRA).

Ganchev also faces charges of threatening to kill Krasimir Stefanov, Executive Director of the National Revenue Agency (NRA).

Regarding the murder threat count, Ganchev says that he has known Nedyalko Chandarov, the alleged intermediary in the scheme against NRA head Krasimir Stefanov, for 25 years.

He insists that the brutally worded threat cited by the prosecuting authority is manipulated and has been stitched together from a number of conversations.

The businessman says that all events he got involved into since the special police operation on May 11 are part of a plot against him.

Reportedly, Ganchev will also give up on the deal for the purchase of a stake in the CSKA football club and the Litex football club, of which he is an owner, is also not on top of his list of business priorities.

The Chairman of the Managing Board and Executive Director of insurance company DZI emphasizes that he left the revenue administration some 10-12 years ago and says he does not know anything about a murder threat against the NRA head.

Grisha Ganchev is the owner of the Litex FC and the Litex company, based in the northern Bulgarian city of Lovech. As of the end of 2011, Ganchev's joint venture with the Chinese company Great Wall Motors, Litex Motors, started the production of Chinese cars for the EU market in the Litex Motors factory near Bulgaria's Lovech, in the village of Bahovitsa.

In another Thursday interview with Darik radio, the alleged middleman in the murder threat scheme, Nedyalko Chandarov, fails to remember about a phone conversation with Grisha Ganchev.

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Tags: Grisha Ganchev, Litex, murder threat, VAT fraud, tax fraud, GDBOP, National Revenue Agency, Krasimir Stefanov, NRA, CSKA, Litex, Great Wall, business


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