Tsvetan Vasilev

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Tsvetan Vasilev (also spelled Tzvetan Vassilev; Bulgarian: Цветан Василев; born 1959) is a Bulgarian entrepreneur. He is the former majority shareholder and chairman of the supervisory board of Corporate Commercial Bank, the fifth-largest Bulgarian bank based on assets, which collapsed in 2014 after a bank run.^[1] Vasilev argues the bank faced a corporate raiding attack orchestrated by media mogul and politician Delyan Peevski with the help of Bulgaria's Prosecutor's Office and the Bulgarian central bank, so that its most attractive assets could be stolen.^[1] Vasilev has submitted an application under the US Global Magnitsky Act against Delyan Peevski and Bulgaria's General Prosecutor Sotir Tsatsarov.^[2] He successfully challenged the withdrawal of the bank's license before the European Court of Human Rights which established violations of the right to property and the right to a fair trial.^[3] Depositors at the Corporate Commercial Bank have submitted a claim against Peevski, the Bulgarian National Bank and others under the US Racketeer Influenced and Corrupt Organizations Act: they argue that the defendants engaged in fraud after the bank's closure to deviate assets.^[4] Vasilev currently lives in exile in Serbia where he was granted political asylum.^[5]