Sat, Feb 11 2012

SANS investigates 150 millionaires - report

Wed, May 06 2009 10:31 CET

byRene Beekman

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SANS investigates 150 millionaires - report

Photo: асен тонев

Bulgaria's State Agency National Security and the prosecution launched investigations against 150 persons who own property estimated at more than 500 000 leva, but where the origin of the money was unclear, Bulgarian daily Standart said.

In a special operation called "Tycoon," SANS, together with the National Revenue Agency, the Prosecutor's Office and the Customs Agency, had investigated real estate ownership and found discrepancies between wealth displayed and property owned, the daily said.

The operation covered the period 2004 - 2008.

The investigation was still ongoing. Standart quoted unnamed sources as saying that the total number of people under investigation might reach 200.

The current probe was mostly focused on the villa zones in the foothills of Vitosha mountain. Later on, investigators said, real estate in the city centre would be scrutinised.

The investigation had also found 112 Bentley cars. Tax returns filed by the owners of these cars apparently showed insufficient income to own such a car, Standart said.

The daily quoted unnamed special agents as remarking that for a small country like Bulgaria, the number of luxury vehicles was extraordinarily large.

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Luxury car fleet, but no income

One Bulgarian company owned 209 cars, including one Bentley, while its only form of income consisted of several loans, the NRA found after checks into the income of luxury car owners.

Businessman claims friends gave him money for Bentley

Two others funded their own companies with 300 000 leva each so that they could register the Bentleys as company cars, checks by tax authorities show

Please explain...

With tax revenues down considerably compared to last year, the National Revenue Agency is hunting for hidden cash

NRA investigates 400 companies for tax fraud

National Revenue Agency investigates 400 companies for a total of 100 mln leva suspected tax fraud.

National Revenue Agency investigates owners of luxury yachts

In 2006 and 2007, 74 million leva went undeclared, of which 39 million leva is attributed solely to property lenders from Sofia. In the past five years debts accumulated among individuals has accumulated to 2.7 billion leva

SANS to investigate State Administration Ministry over alleged abuse of power

The ministry denies allegations about a scheme to siphon Budget funds through a health services e-portal project

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