Corruption in the banking sector: Al Shanfari sues Bulgaria to scandal!

Corruption in the banking sector: Al Shanfari sues Bulgaria to scandal!

Laimgrubengasse 10, 1060 Wien, Österreich - In an important week for the international economy, Sheikh Dr. Adil Said Al Shanfari in Vienna awarded the renowned "Grand Prize Universe Business Award" in the "Global Business" category. Al Shanfari, who runs a network of over 20 companies and two private universities, received this honor in recognition of his business success and its leadership. But in parallel to this honor, he pulls against the Bulgarian investment bank AD to court after he found that an investment of 100 million euros has disappeared without his consent. These legal steps were initiated at the city court in Sofia, just before Al Shanfari traveled to Vienna.

The lawsuit throws a bright light on corruption in the Bulgarian banking sector, which has been criticized several times in the past. The former US ambassador in Bulgaria, John Beyrle, described the investment bank as "Bad Apple Bank" and referred to repeated money laundering scandals. Al Shanfari criticized the inadequate investigations by the Bulgarian authorities in sharp words and explained: "It is shocking that something like this can happen in Europe." The multitplication of such cases could burden the upcoming Schengen membership of Bulgaria in the last few days after years of discussion, such as Investweek.com reported. Austria apparently lifted his veto against Bulgaria's joining and Romania. This could accelerate the full accession of the two countries into the border -free travel area.

The Austrian government took into account its concerns about irregular migration. Measures to improve security at the limits and the decline in asylum applications have led to a change in the attitude in Vienna. If there is a breakthrough in the negotiations between the inner ministers, the official decision on membership could be made at a meeting. Romania sees itself optimistic, and Prime Minister Marcel Ciolacu announced that the timetable was determined with a start date on January 1, 2025. However, the uncertainty of the Netherlands remains, where a new debate about the position of the country is imminent in the context of the Schengen side.