Nikolay Barekov's Appointment at TV7 'A Mistake' - KTB Owner

Nikolay Barekov opened his way in politics as he started what many describe as a "reality show" traveling across Bulgaria's rural regions to address the issues of inhabitants. He used TV7's resources for that purpose. Photo by BGNES

Corporate Commercial Bank (KTB) majority shareholder Tsvetan Vasilev said he had made a mistake by appointing MEP Nikolay Barekov as TV7 channel's CEO.

In an open letter to the media sent after politician Yane Yanev referred him to prosecution over allegations that he "illegally financed" Barekov's Bulgaria without Censorship party, Vasilev dismissed Yanev's signals to the Prosecutor's office.

KTB's owner however also stressed it was Barekov whose "financial propriety" should be put into question.

Vasilev delivered his comments amid a scandal in Barekov's Bulgaria without Censorship, which some of its coalition partners have left over the past days.

In an interview for private channel bTV after the KTB affair started, Vasilev admitted Barekov's rise in politics should largely be ascribed to his use of TV7's resources.

Vasilev, to whom the channel was allegedly affiliated at the time when Barekov launched his political career, also acknowledges in his letter that he personally recommended the journalist-turned-politician to take the post in 2012.

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