Bulgaria C-Bank Deputy Governor Definitely Dismissed

The Sofia Court of Appeals has confirmed the dismissal of Tsvetan Gounev, the Bulgarian National Bank (BNB)'s Deputy Governor in charge of banking supervision.

The ruling comes after the Sofia City Court's decision that Gounev should vacate the office.

Magistrates believe he might apply pressure on his subordinates into faking testimony in a trial against him where they are witnesses.

Gounev was charged with abuse of office on June 16, days before the crisis at Corporate Commercial Bank (KTB) began. On November 25 he was also charged with breach of duty just a day after returning to office following a months-long leave. The prosecuting authority then demanded that he be dismissed.

According to prosecutors he failed to take action to tackle violations at KTB.

The appellate court's ruling cannot be appealed.

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