Prosecutors Probe Russian Investments In Pamporovo

The Prosecutor's Office in the town of Smolyan has launched investigations into Russian investors pouring money in construction of hotels in Pamporovo, Bulgarian news agency (BTA) reported on February 29.

The prosecutors seek to make sure that no illegal money was used for the construction of hotels in Pamporovo mountain resort. Similar inquests have been carried out since 2006.

Special teams are tracing out how deals for land were signed, contractual clauses and taxes paid. The magistrates did not specify the number of projects in Pamporovo and Smolyan region that were funded with Russian capital, BTA reported.

In 2006 alone, Smolyan prosecutors started 58 investigations, but most of them have been transferred since then to other parts of the country, to the cities where the investing companies have been registered. Seven cases stayed with the prosecutor's office in Smolyan, but have been closed after finding nothing wrong. Prosecutors said the new investigations were unlikely to be completed earlier than several months from now, as quoted by BTA.