Bulgarian Authorities Seize Millions in Counterfeit Cash Printed at University, Two Arrested

In a significant crackdown on fraudulent activities in Bulgaria’s finance industry, authorities have seized millions of euros and dollars worth of counterfeit cash printed at a university in Sofia. A joint operation by Bulgarian police and the US Secret Service resulted in the arrest of a man and a woman, including an employee of the printworks, with notes valued at €3.6 million and $4 million recovered.

The Seizure

The seizure is believed to be one of the largest hauls ever made in Bulgaria, according to Chief Prosecutor Lubomir Yanev. The counterfeit money was found to be of “relatively good” quality and was produced outside regular working hours and on weekends. Investigators believe that the detained individuals were part of a larger scheme linked to the trafficking of counterfeit US dollar bills to Ukraine and fake euros to Western Europe.

The Printworks

The printworks, located at an unnamed university in Sofia, was targeted during a series of raids conducted by police and the Secret Service. Although the university’s authorities have denied any knowledge of the operation, Bulgarian police chief Georgy Hadzhiev stated that there is no evidence to suggest that they were aware of what was happening.

Previous Collaboration

This is not the first time that Bulgarian authorities have teamed up with the US Secret Service to combat counterfeiting. In January, a similar operation resulted in the arrest of four individuals and the seizure of counterfeit money and printing equipment at 30 locations across the country.

Concerns about Fraudulent Activities

The latest development has sparked concerns about the scale and sophistication of fraudulent activities in Bulgaria’s finance industry. As authorities continue to investigate the matter, it remains to be seen whether this is an isolated incident or part of a larger criminal network.

Key Points

• Authorities seized millions of euros and dollars worth of counterfeit cash printed at a university in Sofia
• Two individuals, including an employee of the printworks, were arrested during the operation
• The counterfeit money was found to be of “relatively good” quality and was produced outside regular working hours and on weekends
• Investigators believe that the detained individuals were part of a larger scheme linked to the trafficking of counterfeit US dollar bills to Ukraine and fake euros to Western Europe
• This is not the first time that Bulgarian authorities have teamed up with the US Secret Service to combat counterfeiting.