Sat, Feb 11 2012

Former state railways executive indicted in mismanagement case

Mon, Nov 09 2009 17:07 CET

byAlex Bivol

1611 Views 3 Comments
Former state railways executive indicted in mismanagement case

Photo: Krassimir Yuskesseliev

Sofia city prosecutors indicted the former chief executive of state-run railways BDZ Hristo Monov, Dnevnik daily said on November 9. Monov, who was sacked from BDZ in October, is accused of deliberately signing a deal that caused 10 million euro in damages to state coffers.

Monov signed the deal with a Swiss-based firm to buy up to 30 carriages for a fixed price of 550 000 euro each, but an appraisal ordered by prosecutors valued the carriages at 217 000 euro. So far, BDZ has paid 90 per cent of the 16.5 million euro it owed under the contract, with only 12 carriages delivered.

The carriages are between 35 and 40 years old, refurbished between 1997 and 2000, but were not repaired recently, prosecutors said. Some of the carriages did not meet the Bulgarian railways' technical requirements, which made them dangerous to use on Bulgarian tracks.

If Monov is found guilty of the charges, he faces up to 10 years in prison.

The court set a 10 000 leva bail on Monov on November 9.

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Comments

Anonymous Valeri Thu, Nov 12 2009 01:36 CET
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"In business, if you screw up you get fired..."

Hahahaha!;)
You mean like Wall Street? Not only can you screw up, not only do you tip the whole world into financial crises, but after you get bailed by tax payers, you get billions in bonuses...

Nothing is fair.
I do agree about the new government.

Anonymous xmfclick Wed, Nov 11 2009 11:17 CET
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I find it encouraging that the new government is (well, seems to be -- time will tell what actually happens) taking steps to hold wrong-doers from years gone by to account for their actions. I have always found it sickening when people who, when in power, have stolen, lied, cheated or even killed are given a slap on the wrist by the new incumbents and told not to do it again. In business, if you screw up you get fired; if you steal, the police are called and you end up in court. People in public office must be made [...]

 Read the full comment to see that they WILL be held accountable for their actions. THAT is how to tackle corruption.

Anonymous what a joke Tue, Nov 10 2009 15:05 CET
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Who would have thought it! Some one in power mis-managing public funds.


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