Bulgaria Probes 'Greatness' Party Over Alleged Fraud and Money-Laundering Network

The Anti-Corruption Commission in Bulgaria has launched a wide-ranging investigation into an alleged property fraud and money-laundering network connected to the "Greatness" (Velichie) political party. According to information from Bulgarian media, several people have been detained as part of the operation.

The actions began early this morning, when teams from the Commission, supported by gendarmerie and police units, carried out coordinated searches at multiple locations across the country. Properties in Sofia, Varna, Shumen, Pazardzhik and the village of Neofit Rilski were entered simultaneously. The operation is being directed by the Sofia City Prosecutor’s Office.

The probe stems from information published in the media, as well as alerts submitted by members of parliament regarding the activities of what is described as a financial pyramid allegedly associated with Greatness’s leader, Ivelin Mihaylov. Despite the scale of the operation, Mihaylov is not among the individuals detained so far.

Further reading: Pro-Russian Rhetoric and Anti-Euro Sentiments: A New Political Party Rises in Bulgaria