BCCI approves stricter penalties for theft of companies, but calls for more efficient prevention

The Bulgarian Chamber of Commerce and Industry welcomes the proposed amendments to the Penal Code approved by the Government, which provide for stricter penalties for the so-called theft of companies. At the same time, the Chamber calls to strengthen the prevention of this type of crime.

In addition to complicating the procedures and increasing the penalties, the control authorities need to do their job. The more punished and sentenced persons there are for theft of companies, the better the prevention of this type of crime will be, said BCCI President Tsvetan Simeonov in an interview for the Bulgarian television TV “Evropa”. His comments were made in relation to the approved by the Government proposals for amendment to the Penal Code, which introduce five times heavier penalties for theft of companies. The new text envisages imprisonment from 1 to 10 years and confiscation of assets of this type of crime. According to the proposed amendments, criminal responsibility will now be carried by the representatives of the company, including the persons authorized by them, alongside their management.

Mr. Simeonov pointed out that the amendments to the Commerce Act adopted by the General Assembly in the summer will have an impact on resolving this problem. We remind you that the amendments introduced a more complicated procedure when changing the managers of companies, transferring company shares or entire companies, as well as when operating with the real property of companies.