Prosecution to Press Charges against KTB Executive Director

Business | July 12, 2014, Saturday // 13:31|  views

Photo: Hristina Dimitrova

The prosecution will press charges against Orlin Rusev – executive director and  chairperson of the managerial board of the Corporate Commercial Bank (KTB), reports BNT.

Rusev will be charged with misappropriation of particularly large size in favour of third parties, which, according to Bulgaria's Penal Code is a felony. 

Rusev was arrested on Friday in connection to the missing millions from the KTB vaults. They were allegedly taken out in cash in sacks and handed over to a third party, acting for the KTB majority shareholder Tsvetan Vasilev, who is also wanted by the prosecution. 

According to the prosecution, Rusev personally authorised the cash withdrawal.

On Friday the KTB cashier Margarita Petrova was arrested for 72 hours and accused of “misappropriation of particularly large size”. 

On Sunday the prosecution will demand the permanent arrest both for Rusev and Petrova, who are also charged with complicity. 

Meanwhile, Tsvetan Vasilev told the bTV national channel he was not hiding and will return in Bulgaria “within the next few days”. Vasilev has been in Vienna since June.

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Tags: Corporate Commercial Bank, KTB, Tsvetan Vasilev, Orlin Rusev, charged, misappropriation, felony


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