Fraud halts EU funds for Bulgaria

BULGARIA will not receive €600 million in EU funds due to fraud and corruption, the first time the union’s commission has taken such action.

The action follows findings by OLAF, the EU’s anti-fraud office, that about €6.5m was being siphoned off by a criminal network of more than 50 Bulgarian and other off-shore companies.

They said corruption goes to the highest levels in the country, with one criminal network managed and financed by two people close to Bulgaria’s government.