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  • Writer's pictureStoil Petrov

Vast operation against financial scams

Updated: May 14



Bulgaria, in cooperation with 6 other countries, has broken a group specializing in financial scams.



The inquiries were received by the authorities of 7 countries under the leadership of Eurojust: Germany, Bulgaria, Spain, North Macedonia, Poland, Sweden and Israel.


On May 11, 2021, the Bulgarian authorities carried out a major raid against an organized criminal group involved in financial scams (binary options and other risky instruments). The group would have duped around 30 million euros from investors.




Authorities raided 21 premises, including call centers, company offices and homes in raids in three Bulgarian cities: Sofia, Mezdra and Varna.


The raids resulted in the seizure of 68 computers, 43 hard drives, 19 cell phones, numerous valuables and several documents. In addition, the authorities arrested five people. The leader of the group is an Israeli citizen who tried to flee Bulgaria but was


caught.



In addition, Bulgarian law enforcement discovered narcotics in the possession of the detained group members.



The investigations carried out by the German authorities played a key role in the arrest of the crooks.


European authorities are becoming increasingly sensitive to false investment scams. International cooperation is one of the keys to effectively fighting


internet scams. Another is the performance of banking controls.


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