Bulgarian Businessman Tsvetan Vasilev's Hotels Impounded by Authorities

The Bulgarian National Revenue Agency has impounded assets operated by firms connected to Tsvetan Vasilev, majority owner of collapsed Corporate Commercial Bank (Corpbank or KTB).

The shares of a company owning several hotels have been impounded, Pressa daily reported.

The hotels affected by the move include a four-star spa hotel in Hisarya, the five-star Sana Park in St St Konstantin and Elena seaside resort, the three-star hotel Gliciniya in Golden Sands resort, the four-star Belmont in Pamporovo, Vila Kalina in Bansko as well as two houses in the village of Bozhentsi.

Currently, dealing in assets of a total of 11 companies connected to Vasilev have been blocked by the revenue agency - telecommunication company Vivacom, ammunition maker Dunarit, NURTS Bulgaria, Bromak, Fina-C and others.