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Bulgarian nightmare for Brits

publication date: Apr 27, 2010
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BulgariaA formal investigation is to be launched into allegations by British families protesting in Bansko who say that they were conned out of their property, the Bulgarian media has reported.

On 24 March, the British group, accompanied by UK journalists, protested outside the building, the Four Seasons complex in Bansko, where they had bought flats. They said that they had been denied access to their flats for more than nine months.

The families all purchased their properties through Rockarch Estates, a London-based estate agency dealing in Bulgarian property. Rockarch said that it had been defrauded by a Bulgarian business partner who had access to its accounts. The firm accuses this partner of transferring part of the flats over to a Bulgarian company Zekom, allegedly “for a fraction of their real value,” according to The Daily Mail.

Tsvetan Tsvetanov, Bulgaria’s Interior Minister, said that the deputy director of the Chief Directorate of the Criminal Police and the appellate prosecutor of Sofia, Vicho Vichev, would go to Blagoevgrad to examine the records, and on to Bansko for further investigation if required.

The complex was built by Four Seasons RN, with Reneta Kachushka and Nadya Subeva as partners. British buyers bought 78 of the apartments, with, it is alleged, the remaining 29 properties being transferred in what they alleged were “shady financial transactions” by Sudeva to Zekom. But when the construction was completed, Zekom received the keys to the complex and has since refused access to the owners.