Headline: liésSubheadline: luxury real estate developer with ties to Bulgaria‘s top prosecutor faces scrutiny over property deals and construction projects
In a nutshell, the story revolves around Borislav Sarakov, a key candidate for Bulgaria’s top prosecutor position, and his family’s thriving real estate business. Their latest project is the "Tilina" luxury apartment building in Sofia, constructed on a plot previously owned by Borislav’s sister, Biliana Bobi Stoyanova. The family company, "Kreativ Invest," bought the land for a mere €28.80 per square meter, significantly lower than the market price at the time.
The Sarakov family’s real estate ventures span over 30 properties and construction projects, valued at tens of millions of euros. Notably, many of these assets are owned through offshore companies, and several properties have been purchased from Strandzha Karakachanov, a former mayor with a controversial past, who has since denied any connection to Borislav Sarakov despite evidence to the contrary.
The family’s business partners include Vladimir Vasev, a wealthy Bulgarian businessman with a history of corruption allegations, and Kaloyan Kalaydzhiev, the owner of a troubled bank and a controversial construction company. Kalaydzhiev’s firm, "Glavbolgarsky Proekt," is the main contractor for the "Tilina" project.
Borislav Sarakov, his wife Eugenia, and their son Bobby have all been involved in the real estate ventures, either directly or through offshore companies. They have allegedly used creative accounting practices and shell companies to obscure their involvement and avoid taxes.
Moreover, the family’s business dealings appear to have benefitted from their connections to the Bulgarian political and legal systems. The family company, "Kreativ Invest," has received preferential treatment and lucrative contracts, while Borislav Sarakov himself has faced little to no accountability for his alleged involvement in suspicious property deals and Business Class flights paid for by a controversial businessman.
The family has also been linked to the "Dubai Uncovered" international investigation, which exposed a network of corruption and money laundering involving Bulgarian officials, including Borislav Sarakov’s sister, Biliana Bobi Stoyanova.
Despite these allegations, Borislav Sarakov continues to campaign for the top prosecutor position, claiming he has no ties to the real estate business or any conflicts of interest. His opponent, Daniela Taleva, has called for a thorough investigation into these allegations, but so far, little progress has been made.
The story raises important questions about the role of corruption and political connections in Bulgaria’s real estate market, as well as the lack of accountability and transparency in the country’s legal and regulatory systems.
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Meta Description: Explore the controversial real estate empire of Bulgaria’s top prosecutor candidate, Borislav Sarakov, and his family. Despite apparent conflicts of interest and allegations of corruption, Sarakov continues to pursue the top legal post in the country.
