Balgarianovinite.com The investment platform in which victims from Plovdiv and Pazardzhik invested over EUR 415,000 is registered in the United Kingdom, but the individuals running it are believed to be of Ukrainian or Russian origin, Plovdiv Deputy District Prosecutor Plamen Pantov told reporters here Friday. The man arrested in connection with the fraud remains in pre-trial detention.
He has been charged with large-scale fraud as part of an ongoing criminal scheme, punishable by one to eight years in prison. Authorities are continuing to gather evidence regarding the involvement of other individuals, additional victims, and the movement of funds, Pantov added. There is no evidence that the suspect has IT expertise. Since 2013, he has had no employment in Bulgaria, but investigators found that he previously worked in Germany as a truck driver. He has no prior criminal record. Using proceeds from the scheme, he purchased a luxury car and real estate in Plovdiv.
The scheme, operated in Bulgaria by the 47-year-old man, was active between July 20, 2022, and December 25, 2024. Investigators have documented 10 cases in Plovdiv, the nearby villages of Tsalapitsa, Branipole, Malo Konare, the town of Stamboliyski, and Pazardzhik, in which he allegedly defrauded private individuals of more than EUR 415,000. He targeted small groups of people, promoting his activities to attendees he selectively invited, often from ethnic minority groups who had worked abroad. One of the victims, a 30-year-old man, allegedly invested USD 280,000, with the suspect claiming the money came from gambling.
The arrested man acted as an intermediary for an investment platform offering automated cryptocurrency trading. He persuaded investors that their money would be automatically converted into cryptocurrency, generating returns of around 15–20% per month. Each investor was given an “investment profile” showing the movement of funds and purported profits on the platform. While these balances appeared in user accounts and reflected fictitious gains, the amounts had no real value outside the platform and could only be controlled by the scheme’s operators. Investment Platform which Defrauded Bulgarians Found to Be Registered in UK, Operated by Russians or Ukrainians – Prosecutor 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-03-27 08:35:02 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law