Courts freeze assets of main shareholder in Bulgaria's Corpbank

December 1, 2015 7:24 PM

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SOFIA Dec 1 Courts in Bulgaria and Switzerland have frozen more than 600 million levs ($325.6 million) in assets belonging to the main shareholder of collapsed Corporate Commercial Bank (Corpbank), who was charged with embezzlement, Bulgaria's asset forfeiture commission said on Tuesday.

Bulgaria's central bank closed Corpbank's operations and took control of the Balkan country's fourth-largest lender on June 20, 2014 after a bank run triggered the biggest banking crisis in the country since the 1990s.

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