Kotsev Bail Fund: Money Laundering Concerns

by Ethan Brooks

Bulgaria Rocked by Allegations of Illegal fundraising for Politician’s Bail

A former municipal employee alleges that donations totaling BGN 200,000-used to secure the release from custody of Blagomir Kotsev, a politician affiliated wiht the PP-DB coalition-constitute abuse, are illegal, and perhaps involve money laundering. The claims, made by Bilyana Yakova in reports submitted to multiple Bulgarian regulatory bodies, are intensifying scrutiny of the fundraising efforts and raising questions about the oversight of charitable donations with political implications.

Yakova’s report,sent to the National Tax Service,the National Revenue Agency,the anti-corruption commission,and financial supervision authorities,also questions why the Varna District Court accepted the funds without verifying their origin. This lack of due diligence, she argues, further compounds the potential legal and ethical breaches.

Did you know? – Bulgaria’s Penal Code criminalizes money laundering,carrying potential sentences of up to 12 years imprisonment and significant fines. The allegations center on whether funds were obscured through charitable donations.

A History of Conflict

Yakova, who served as a witness in the case against kotsev, previously played a key role in efforts to challenge his mayoral powers, alleging he exceeded permissible leave during his arrest. Her history with Kotsev is complex. She was responsible for a multi-million dollar European project focused on urban transport modernization during the tenure of Ivan Portnich (GERB), a project that drew criticism from PP-DB.Yakova was later terminated from her position during Kotsev’s leadership, though not promptly, following a period of working under him-a dynamic she has previously testified about.

Pro tip: – When evaluating political donations, consider the source of funds and whether they align with the stated purpose of the receiving organization. Transparency is key to ensuring legal and ethical compliance.

targeting Fundraising Campaigns

The most prominent fundraising campaigns for Kotsev’s bail were spearheaded by Member of Parliament manol Peykov (PP-DB) and actor Filip Bukov, and yakova’s criticism is directly aimed at them. She contends that soliciting funds for the release of a detained political figure does not qualify as legitimate charitable activity and is therefore unlawful.

Specifically, Yakova challenges the legality of funds raised through “Platformata.bg”/BCause, Bukov’s initiative. Citing the organization’s stated purpose, she asserts, “Neither the general conditions nor the described purposes allow for ‘political guarantees’ or guarantees of accused persons.” The platform, she argues, is designed to support individuals in need of medical assistance, contest participation, or other social causes, requiring foundation approval, a framework contract, and a demonstrated need.

Similarly,Yakova claims that the “Manol Peykov and Friends” foundation is legally restricted to activities aligned with its registered statute-social,charitable,and educational endeavors-rendering the use of funds for a bail guarantee a “clear deviation from the charitable and public mission.”

Concerns Over Transparency and Potential Illegality

A meaningful portion of the donations-over 50%-are reportedly anonymous, including substantial amounts of BGN 2,000 and BGN 1,000. “This creates a risk of money laundering and hiding the origin of the funds,” Yakova concludes. She believes that leveraging charitable organizations for political gain re

Reader question: – do you think charitable organizations should be allowed to accept donations for political causes, even if those causes don’t directly align with their stated mission?

Why, Who, What, and How did it end?

Why: The allegations stem from concerns that funds raised for Blagomir Kotsev’s bail were illegally obtained and used, potentially constituting money laundering and abuse of charitable organizations.
Who: Bilyana Yakova, a former municipal employee, made the allegations against blagomir Kotsev (politician, PP-DB

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