Varna investment scam call centre network busted: 4 charged
Police raided investment-fraud call centres in Varna, Sofia and Burgas on 21 Oct 2026; four men are charged over about €600,000 taken from EU citizens.
Police have broken up a network of investment-fraud call centres operating from Varna, Sofia and Burgas. On 21 October 2026 officers of GDBOP, Bulgaria’s organised-crime directorate, carried out 24 searches, and four men were charged with taking part in an organised group that committed fraud and money laundering. The scheme allegedly brought in about €600,000 from EU citizens (Varna24).
What did the police find?
The investigation is led by the Varna District Prosecutor’s Office. According to Varna24 and Varnautre, which both reported on 21 October, the searches turned up phones, computers, ID cards, bank documents and cards, and cash. Investigators traced more than 200 bank transfers into accounts held by front persons (“straw men”). Initial data suggest the group worked from January 2025 to October 2026.
The four men are charged under Article 209 (fraud) and Article 253 (money laundering) of the Bulgarian Criminal Code:
| Suspect | Age | Status (21 Oct 2026) |
|---|---|---|
| Z.G. | 34 | Detained for up to 72 hours; prosecutor to seek custody |
| P.P. | 29 | Detained for up to 72 hours; prosecutor to seek custody |
| I.G. | 30 | Released on €4,000 bail |
| A.K. | 24 | Released on €5,000 bail |
The suspects are presumed innocent until a court rules otherwise.
Who were the victims?
Both outlets say only that the call centres persuaded citizens of European Union countries to invest large sums. The victims’ countries were not named. The total damage is still being established, with many interviews, expert reports and checks still to come.
How do fake-trading call-centre scams work?
The pattern described in the reports matches a well-known model that Europol warns about:
- The hook. An online ad or a cold call offers easy profits from shares, forex or crypto.
- The “account manager”. A friendly caller opens a trading account for you on a professional-looking platform.
- Fake profits. A small first deposit appears to grow, so you are encouraged to invest more.
- The squeeze. When you try to withdraw, you are asked for “taxes” or “fees”, then the contact disappears.
- Laundering. Money is moved quickly through accounts of front persons, as investigators say happened here.
What are the warning signs?
- Someone contacts you first, often repeatedly, by phone or messenger.
- Returns are “guaranteed” or far above normal.
- You are pushed to decide today or to keep it secret.
- You are asked to install remote-access software (such as AnyDesk) or to share bank codes.
- Payments go to private persons or keep changing accounts.
Where to report fraud in Bulgaria
- 112 in an emergency, or any police station in Varna (see our guide to emergency care and 112 in Varna).
- Your bank straight away: ask it to stop or recall the transfer.
- The Financial Supervision Commission (fsc.bg) publishes a list of firms that are not authorised to offer investment services. Check any firm there before you pay.
- If you live in another EU country, also report to your own national police.
Varna police also take reports from residents in other areas, for example traffic videos: see Varna’s “On record, no compromise” campaign.
Update
As of 26 October 2026 we could not find a published court decision on custody for the two detained men. We will add it here when it is reported.
Sources
- Varna24 – Network of financial-fraud call centres busted in Varna (21 Oct 2026)
- Varnautre – Investment fraud and money laundering investigated in Varna, four men detained (21 Oct 2026)
- Financial Supervision Commission – List of entities not authorised by the FSC
- Europol – Investment scams (prevention leaflet)
Frequently asked questions
What happened in the Varna call centre investigation?
On 21 October 2026 GDBOP officers carried out 24 searches in Varna, Sofia and Burgas. Four men are charged with taking part in an organised group that committed investment fraud and money laundering.
How much money was involved?
About €600,000 so far, moved through more than 200 bank transfers to accounts of front persons. Prosecutors say the figure is not final.
Where do I report an investment scam in Bulgaria?
Call 112 or go to any police station, tell your bank at once, and check the firm on the Financial Supervision Commission (fsc.bg) list of unauthorised entities.
How can I tell if an investment offer is a scam?
Unsolicited calls, promised high or guaranteed returns, pressure to act fast and requests to install remote-access apps or send money to private accounts are classic warning signs.
