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Bulgaria court jails "Cocaine Kingpin" for money laundering

Feb 15 2013 Reuters

A Bulgarian court sentenced a gang kingpin on Friday to 7 1/2 years in prison for laundering drug-dealing profits, a small step against rampant organised crime that has slowed the Balkan state's full integration into the European Union. The EU's poorest member has been repeatedly criticised by Brussels for doing too little to fight widespread corruption and gangsterism that which still blight Bulgaria two decades after the end of Communist rule. This has deterred investors, hindered growth and delayed Bulgaria's entry into the Schengen zone of borderless EU travel, more than five years after it was admitted to the EU. Prosecutors had demanded a 12-year sentence for Evelin Banev "Brendo", 49, whose lawyer said he would appeal against Friday's verdict by the Sofia city court. He was accused of having laundered more than two million euros ($2.67 million) in drug-trafficking proceeds using a personal account belonging to a businessman shot dead in 2005. Banev was arrested last May in

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