Former Finance Minister Stoyan Alexandrov Charged with Usury

Former Finance Minister Stoyan Alexandrov Charged with Usury

Sofia, February 22 (BTA) - The Sofia City Prosecution Office (SCPO) has charged former finance minister Stoyan Alexandrov (1992-1994) with usury, the prosecuting magistracy said in a press release Thursday. His bail has been set at 100,000 leva.

One of the charges pressed against Alexandrov is that between 2002 and 2015 in his capacity as a natural person, he was involved in banking activities without holding the proper license for that. According to the prosecuting magistracy, Alexandrov extended 61 loans in leva, euro and USD to different natural and legal persons in the amount of 541,000 leva, 1,693,160 USD and 3,738,600 euro, for which he charged interest. The former finance minister faces imprisonment of up to five years and confiscation of half of his property.

He is also charged with issuing 14 loans in the amount of 1,006,400 leva and 9,955,579.88 euro, without having the proper license for that. The second charge pertains to the period between 2002 and 2009 and the loans were issued by Alexandrov in his capacity as the manager of two companies. For that he faces up to ten years imprisonment, a fine of 5,000 to 10,000 leva and partial or full confiscation of property.

Source: Sofia