Bulgarian Politician Linked to Corruption Designates Political Party Ahead of Elections
Surprise Move Amid Corruption Allegations
In a surprising turn of events, Ivo Bojkov, a Bulgarian businessman with ties to corruption, has registered a political party ahead of the country’s July 2021 parliamentary elections. This development comes as the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) designates Bojkov and several entities affiliated with him under Executive Order 13818 for their alleged involvement in corruption.
Corruption Allegations Against Bojkov
According to OFAC, Bojkov has been involved in various corrupt activities, including:
- Misappropriation of state assets
- Expropriation of private assets for personal gain
- Bribery
The designated entities include Bulgarian Summer, a company registered in Bulgaria that is owned or controlled by Bojkov or one of his companies.
Designations Against Peevski and Affiliated Entities
In addition to designating Bojkov, OFAC also designated Delyan Slavchev Peevski, a Bulgarian oligarch with a history of corruption, and several entities affiliated with him under the same executive order. Peevski has been accused of engaging in various corrupt activities, including:
- Influence peddling
- Bribery
These actions were allegedly taken to protect himself from public scrutiny and exert control over key institutions and sectors in Bulgarian society.
Global Magnitsky Human Rights Accountability Act
The designations are part of the Global Magnitsky Human Rights Accountability Act, which aims to impose tangible and significant consequences on those who commit serious human rights abuse or engage in corruption. The sanctions will likely have significant implications for Bojkov and Peevski’s financial interests, as all property and interests in property of the designated persons that are in the United States or in the possession or control of U.S. persons are blocked.
Consequences for Bojkov and Peevski
The move is seen as a major blow to both individuals, who are now subject to strict financial sanctions and travel restrictions. It remains to be seen how these designations will impact their ability to participate in Bulgaria’s upcoming elections, but it is clear that their involvement in corruption has significant consequences.
Related:
- U.S. Treasury Department Designates Bulgarian Businessman for Corruption
- Bulgarian Oligarch Linked to Corruption Designated by U.S. Treasury Department
- Global Magnitsky Human Rights Accountability Act: What You Need to Know