![]() ![]() ^ Skafida, V Silver, KE Rechel, BP Gilmore, AB ().^ "Bulgartabac proved guilty for rupture between MP Peevski and Banker Vasilev".^ "VTB Capital's international strategy envisages further expansion of our business into new geographies and markets, including central and eastern Europe".Former Bulgarian Minister of Justice Hristo Ivanov has drawn attention to the fact that the problem of cigarette smuggling by Bulgartabac is mentioned in every yearly report by the Turkish Anti-Smuggling and Organized Crime Department and that it is peculiar that Bulgarian authorities have not noticed. Social activists argue that Bulgaria's General Prosecutor Sotir Tsatsarov avoids investigating Bulgartabac's smuggling on purpose. While the ownership structure of the company is unclear, Bulgarian journalists claim its beneficial owner is Bulgarian media tycoon Delyan Peevski. Recently, the Turkish Anti-Smuggling and Organized Crime Department (KOM) sent a report to Interpol complaining against cigarette smuggling by Bulgartabac and financing terrorism. An investigation into Bulgartabac's alleged role the incident, led by Bulgarian Finance Minister Simeon Dyankov, concluded that the cigarette manufacturer was not responsible but raised the concern that Bulgartabac did not have risk management systems in place to responsibly combat illicit traffic. Once there, the tobacco is usually disguised as another product and given fresh paperwork before being shipped onwards to Iraq, where it is smuggled back across the border into Turkey without paying excise duty." ĭespite proximate location to their production facility, Bulgartabac publicly denied involvement with a 1.6 million dollar shipment of contraband cigarettes seized by Bulgarian customs authorities at the Port of Varna in 2010. ![]() ![]() Allegedly "they are shipped through the Suez Canal and Red Sea, around the Gulf of Aden and up to Jebel Ali, the transit point. īulgartabac has been linked by Turkish Customs officials to a significant role in the production and illegal import of "cheap whites" - substandard cigarettes smuggled in through Iran and Syria to avoid taxation or safety quality standards. Ī 2014 study on Transnational Tobacco Companies (TTCs) penetration of the Bulgarian market after the fall of communism and during that nation's accession into the EU concluded that Bulgartabac was involved with smuggling its own cigarettes out of, and back into, Bulgaria to avoid taxation. Controversies īulgarian news sources Sega and FOCUS linked Bulgartabac to reports that CorpBank banker Tsvetan Vasilev had ordered the assassination of Member of Parliament Delyan Peevski, prompting Bulgartabac to "declare war on CorpBank" and divest itself of all accounts within that institution. In 2011, A unit of OAO VTB, Russia's second-largest bank, was awarded a majority stake in Bulgartabac after the sole bidder offered to pay 100.1 million euros ($145 million) for an 80% stake. Amongst the company's brands are Victory, Rodopi, Haskovo, Gorna Djumaya (GD), Arda, Stewardess, Femina, Prestige, Eva, Bulgartabac, MM, Melnik, Seven Hills, Global, Bridge, Tresor, BT, Charlie, Nevada, Orient Express, Country, etc. and sub-brands in its modernised factories in Sofia and Blagoevgrad using both domestic and imported tobacco. Established in 1947 and based in the capital Sofia, it includes 11 joint-stock subsidiary companies in the tobacco-growing regions of the country.īulgartabac produces over 50 cigarette brands, monopoly of product. Bulgartabac Holding Group AD or simply Bulgartabac ( Bulgarian: Булгартабак) is a Bulgarian tobacco holding company. ![]()
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