Fraud Ring Busted in Bulgaria, Six People Arrested

Incidents | March 29, 2021, Monday // 09:32|  views

Six people were arrested in a raid against a crime group for financial fraud and money laundering, chief of the Specialized Prosecution Office Valentina Madzharova said at a news briefing. Over 200 people have been swindled, including foreign nationals.

One person was robbed of about one million leva

The crime group had been operating since 2017 and had two leaders. Over 40 firms were used in the scheme, signing brokership contracts and promising to the victims to double their investments overnight.

Prosecutor Madzharova added that the citizens who have been swindled by the group have various options to protect their rights and interests, and can establish themselves as victims in the case.

The raid was a joint operation by the General Directorate Combating Organized Crime and the State Agency for National Security.

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Tags: Bulgaria, fraud ring, arrest


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