Two dead in car crash involving former Bulgarian deputy finance minister

Written by on August 23, 2012 in Bulgaria, News - No comments

Two people died in a car crash near the town of Balchik on Bulgaria’s Black Sea coast on August 22. Although police did not identify the name of the drivers involved in the crash, mass-circulation dailies Trud and 24 Chassa reported that one of them was Krassimir Katev, the former deputy finance minister in the cabinet of Simeon Saxe-Cobourg.

Katev, the dailies said, was the one that caused the crash by driving in the opposite lane, but the traffic police had not pressed charges, instead launching an investigating against “an unknown perpetrator”, the reports said.

The two men travelling in the other car died – one on the spot, the other on the way to the hospital.

Katev’s seven-year-old daughter and a 65-year-old woman, both travelling in his car, were injured and required medical attention. The routine breathalyser test administered on the spot showed Katev was not driving drunk, 24 Chassa said.

Katev was the deputy of then-finance minister Milen Velchev in the Saxe-Cobourg cabinet and one of the architects of the Brady bonds swop that changed floating-rate US dollar-denominated debt into euro-denominated fixed-rate bonds, which, according to a Finance Ministry-commissioned report in 2011, has cost Bulgarian taxpayers more than one billion leva.

(Photo: Bart Groenhuizen/



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