The Wolf collected in a personal account 46 million from a bad loan with Bulgarian Development Bank Bought a yacht for over 1 million euros

Rumen Gaitanski – Jung, known as the Wolf, has received BGN 46 million in dividends from the company “Bio Mining” after its account includes BGN 103.5 million from a non-performing loan from the Bulgarian Development Bank (BDB). Over a million leva were paid for luxury motor yacht – indicate bank printouts that BIRD has familiarized with. It turns out that the loan guarantee has become a non-existent contract with Glavbolgarstroy for the supply of building materials.

The loan for
BGN 150 million
It is the largest in the history of the state-owned promotional bank. It is also one of several large dubious loans from BDB distributed at the time it was managed by Stoyan Mavrodiev, one of the founders of GERB and co-author of their economic program. The scandalous loans were revealed by caretaker Minister of Economy Kiril Petkov in 2021.

Non-existent contract

The millions allocated by BDB are for the newly established company “
Roadway Construction
” AD. With the money, she wants to acquire 90% of the shares of “Patstroyengineering

AD, which are held by “Bio Mining

” AD with main shareholder Rumen Gaitanski – The Wolf.

The loan guarantee became an agreement with Glavbolgarstroy for the supply of railway ballast from 02.07.2018. As Capital notes, this contract with Glavbolgarstroy is key to assessing the company’s assets. At a price of 35 BGN. per ton and at least 70 thousand. Tons per month until 2028, with a take-and-pay clause, he guarantees the company 2.45m euros. Lv. monthly income, at least on paper. Based on this contract, the external valuer “Advance expert assessments” values “Patstroyengineering” at 130m euros. Lv.

A year later, on 17.06.2019, BDB signed the loan agreement with Roadway Construction, and the contract with Glavbolgarstroy was set as a future income. Payments on it by Glavbolgarstroy had to be credited to the account of Patstroyengineering AD with BDB.

However, there is no contract. It was terminated by the parties Glavbolgarstroy and Patstroyengineering on 10.07.2018, just a few days after its conclusion. But it was presented to BDB as a guarantee for the payment many months after it was terminated.

The COVID-19 crisis is coming, and Roadway Construction is taking advantage of the relief to avoid paying its loan installments. It was not until December 2021 that the bank realized that there would be no payments on this loan because… No contract. Learning about this fraud, the former BDB leadership reported a crime in the last days of 2021.

The Way of Money

According to the data from bank statements seen by BIRD, on 28.06.2019 Roadway Construction paid Bio Mining AD BGN 103.5 million for the sale of shares in account BG54 SOMB 9130 1049 0959 01 in Municipal Bank. A few days later, on 01.07.2019, the Wolf received from Bio Mining its first serious dividend of BGN 3.5 million.

Remarkably, before he received $103 million from Roadway, Bio Mining’s account had only about $10,000.

More dividend payments follow.

List of dividends paid by “Bio Mining“ to Rumen Gaitanski:

Or in total for the period from the receipt of the money from “Roadway” in the account of “Bio Mining” until 31.12.2021, Gaitanski withdraws to his personal account just over BGN 46 million in dividends.

Other large debit transfers with due loan have been made to the companies “Crystal Water” AD (28.6 million), “Green Partners” AD (1.75 million) and “Wolf” AD /7.44 million/. They also associate with Gaitanski as a direct or indirect owner.

After Bio Mining’s account was practically emptied of the multimillion-dollar dividends and loans, sums from the three companies began to be repaid periodically in the form of repayment of the loans taken, which the Wolf immediately collected as a dividend.

More than $1 million Lv. and donation BGN 600 000. for the Forest

Poroli Special Boats’ Swiss and Italian accounts were transferred funds several times, apparently as advance payments for the acquisition of an expensive Rivamare 38

motor yacht. The price of this model

is about 1 million euros.

On 18.06.2020, EUR 187,500 and another CHF 20,510 were paid, and on 07.07.2020 another BGN 856,625. It can be assumed that the yacht is used in Greece, as on 14.07.2020 were prepaid 4221 euros for the home of the company SANI.S.A.

Puzzling are the transfers to and from the Southwestern State Enterprise State Enterprise State Hunting Estate Iskar, where the illegal villa of the Wolf, owned by his company “Bio Mining”, is located.

On 19.08.2020, a transfer of BGN 600,000 was received in the account. A transfer to SWSP in the amount of BGN 600,000 was ordered by Kristalna Voda AD on the same day, with the reason DOG Donation. PO 01-72/19.08.2020.

The strange thing is that before and after the impressive donation, JZDP DLS Iskar several times made payments to “Bio Mining” “according to protocol and invoices” with the total amount approaching BGN 100,000. It is not clear what services the company of the Wolf has invoiced to the state-owned enterprise.

Another notable expense is the cash withdrawals from Nikolina Tuechka, who manages
several companies
Associated with the Wolf. A total of 180,000 leva were withdrawn. cache.

It is not yet clear what happened to the signal of the former BDB directors, which they submitted on 29.12.2021 to the Minister of Interior “for established violations and crimes” in the granting and utilization of the loan amounting to EUR 150 million. leva from “Roadway Constructionshan” AD

According to our information, another $45 million were paid by Roadway to another account of Bio Mining in Asset Bank. Dividends were also paid from this account to the Wolf’s personal account.

Lead photo: Rumen Gaitanski – The Wolf, the yacht Rivamare 38 (photo Riva Yacht)

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