Assen Vassilev still owns an offshore company, but has not declared this fact

The offshore company Axelbert, registered in the British Virgin Islands, is still owned by Finance Minister Asen Vassilev. This is clear from a reference to the changes in the company’s account in the register of the Finance Commission. The latest change in the ownership of Akselbert Ltd. is the acquisition of the shares by Assen Vassilev, which took place in 2016.

Assen Vassilev has several times signed declarations that he does not own this offshore company. This happened first in 2021 as caretaker Minister of Finance, then as an MP and twice as a regular Minister of Finance. The only declarations here and here that show that he owns Akselbert Ltd are from 2021.

Assen Vassilev submitted in 2022 a declaration of his property in the previous year 2021, in which discrepancies were found, it became clear from the register of the Commission for Combating Corruption and Corruption (CAFIAP). Vassilev, Daniel Lorer and Nikolay Sabev are the only ministers from the government of Kiril Petkov who have found inconsistencies in the declarations. In addition to the false declarations about Axelbert’s ownership, there is also the false declaration of Asen Vassilev, in which he explicitly stated that he was not a manager of commercial companies. On May 17, 2021, Asen Vassilev submitted a declaration of compatibility, in which he claimed that he did not exercise commercial activity and was not a manager or representative of companies.

This is not true at this point, as the report of the BVI Finance Committee also shows that Vassilev remained director of Axelbert until July 28, 2021, or two and a half months after he took office as a caretaker minister in the government of Stefan Yanev on May 12, 2021. The next director is not known, but the last one is American citizen Sebastian Bretschneider, who took office in May 2022, as it became clear from our previous publication.

Винетките на Промяната

Sebastian Bretschneider claims to take BGN 5 million from STV Consulting, a former Bulgarian company owned by Assen Vassilev. He has seized her accounts, but before the seizure, the company managed to get rid of its property on Str. Chataldzha 3, selling it to Stanislava Arnaudova – the Queen of Vignettes. However, the properties sold were collateral for a loan given by Bretschneider to a “third party”, which is not known until now. The information that Assen Vassilev is the ultimate owner of “Axelbert” is still in the Bulgarian Commercial Register. Last year, BIRD sent an inquiry under the Access to Public Information Act to the Ministry of Finance whether Assen Vassilev continues to have a connection with Axelbert. The official response was received on 25/09/2023 and it reads as follows:

At present, Mr. Asen Vassilev is not a representative and is not the owner of “AXELBERT” EOOD.

This is obviously not true according to the available official records. A change in the ownership of Akselbert Ltd has not been entered in the Register of the British Virgin Islands and, accordingly, cannot be entered in the Bulgarian Commercial Register, as official documents certifying the fact of the change of ownership must be submitted there. The paradox of the situation is also that the Minister of Finance also has responsibilities in terms of countering money laundering and the implementation of the Law on Money Laundering. It is by virtue of this law that the owners of offshore companies are obliged to declare them. Bulgaria is not a good example of the fight against money laundering and has recently fallen into the grey list of countries where these practices are widespread. This has a negative impact on Bulgarian business and bank transactions abroad, which become subject to increased control by foreign banks.

Дума срещу документ: Според Търговския регистър Асен Василев продължава да има офшорка. Той отрича

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