CRYSTALBANK BANKRUPTCY - AT COURT
Five shareholders and members of the bankrupt CRYSTALBANK Board of Directors were charged with embezzlement and some of them will stand up in front of the Sofia City Court. After more than four years of investigation at the end of 2000 prosecutors came up with the conclusion that they have committed embezzlement with the purpose of acquiring material wealth both for themselves and for third persons, and by doing so they have incurred vast losses for CRYSTALBANK. Sofia City Prosecutor's Office has already placed the indictment at court and the date of the first sеssion is to be defined soon.
The claim extends to Atanas Gluhov - CRYSTALBANK President since its establishment in 1989 till May 1994, Yury Stajkov - shareholder and member of the Board of Directors since March 1993 till May 1994 and its Chairman since September 1993, Ivan Kitov - Chairman of the Board of Directors since April till September 1993 and its member till May 1994, Boyanka Goylashka - Vice President of the bank since September 1993 till May 1994 and its Executive Director till June 1996 and Iliana Gizdashka - Executive Director of the bank since September 1993 till May 1994 and its Vice President till July 1997.
At different times they have been launching fat credits, violating Bulgarian legislation, which later on were not repaid. Thus the bank suffered substantial losses.
According to the prosecutors bad credits were launched in violation of the Bulgarian legislation, mainly the blame for them laying on Gluhov.