Bulgarian investigators uncovered a money laundering schemes in co-operation with FBI.

Funds directed to Bulgaria were acquired through drug trafficking and the spread of narcotic substances, an Interior Ministry press release said.

The criminal organisation operated in several US states, including Florida.

Part of the funds from the illegal activity were invested in property in Bulgaria. The country was chosen due to the rapidly growing property market.

Since the beginning of 2005 one representative of the group was chosen to develop several property companies. In the past year and a half he had been visiting Bulgaria on a regular basis.

The group invested more than one million dollars in Bulgarian property through the acquisition of five apartments in the coastal region and in the capital of Sofia.

Bulgarian businessmen offered consultancy and advice. The group also hired a Bulgarian accountant.

In May US investigators detained one member of the group.The mutual efforts of US and Bulgarian investigators led to the busting of the group two months later.