Former Bulgarian energy minister charged in abuse of office case

Former Bulgarian energy minister charged in abuse of office case
By bne IntelliNews October 3, 2017

The anti-corruption unit of Bulgaria’s prosecution service has formally indicted former energy minister Rumen Ovcharov in an abuse of office case that has led to state losses worth BNG8.9mn (€4.6mn) from the operations of Bobov Dol coal mine.

These are not the first charges against Ovcharov. In November last year, the former minister was also indicted in relation to the Belene nuclear power plant (NPP) project, which was later scrapped by Prime Minister Boyko Borisov's first cabinet.

In February, the prosecution revealed that while minister, Ovcharov gave permission to the director of the Bobov Dol mines to sign a contract with a trade enterprise for the extraction of coal, which has caused the BGN8.9mn damages.

According to the prosecution, Ovcharov has exceeded his authority giving permission for the contract with the company Oranovo in 2005, seizing the authority of the government and violating the law on concessions.

Moreover, Ovcharov allegedly did not supervise the work of Bobov Dol’s director at the time and, as a consequence, the mine did not collect rents or expenses from Oranovo.

 

Related Articles

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Dismiss