Investigative outlet BIRD.bg has published what it says are previously unseen official documents from the Financial Intelligence Unit of Liechtenstein, outlining an alleged complex financial structure involving concealed ownership and cross-border transactions. The reports reportedly place Bulgarian politician Delyan Peevski at the center of the scheme, operating through a network of associates including lawyer Alexander Angelov, Ventsislav Cholakov, Anton Shterev, and Atanas Petrov.
According to the materials cited, the investigation initially began in 2015 in connection with the privatization of the Bulgartabac holding, but was later reactivated in 2024 following sanctions imposed on Peevski under the U.S. Global Magnitsky framework. A follow-up report from August 2024 allegedly concluded that the financial arrangement continued to function despite sanctions, raising concerns for the Liechtenstein banking system.
The documents describe a structure in which ownership of Bulgartabac is split between Liechtenstein-based entities WOODFORD Establishment and STIGA Anstalt, allegedly obscuring the ultimate beneficiary. The funding flow is said to originate from TGI Middle East FZE, a company registered in the United Arab Emirates.
