Bulgarian tycoon turns himself in to police in Serbia

BELGRADE -- Bulgarian businessman Tsvetan Vasilev has turned himself in to the police in Belgrade, the daily Blic has reported.


Vasilev had an Interpol arrest notice issued against him.

The paper quoted police sources as saying that the Bulgarian was under surveillance since Monday, when the Serbian Interior Ministry (MUP) received information that Bulgaria was looking for him.

The Beta news agency is reporting that Vasilev arrived at the Criminal Investigations Directorate HQ in Belgrade accompanied by his lawyer, and "as he was about to be arrested." He was quoted as saying that he had chosen "the simpler way."

Vasilev is the majority owner of Bulgaria's Corporate Commercial Bank (Corpbank, KTB). The Bulgarian central bank in June took control of KTB, blocking all its transactions and more than USD 3.7 billion in its accounts.

The businessman was accused of fraud, and an international warrant was issued for his arrest, but he left the country before the indictment was raised on July 28.

In March 2012, the KTB bank signed an annex worth EUR 35 million to the contract on the takeover from Srbijagas of the Paraćin-based Serbian Glass Factory (Srpska fabrika stakla).

Vasilev was at the factory in February to attend a ceremony when Serbian President Tomislav Nikolić opened a new production line.

When reports about Vasilev hiding in Serbia emerged recently, Interior Minister Nebojša Stefanović said he had no information that would confirm it.