When police found 104 newly-built dwellings and detained 29 workers from Ukraine and Moldova in a raid on a recently established but still unoccupied upscale housing development near the Bulgarian city of Varna last month, it sparked a political dispute in the country.
The intervention followed investigations by the anti-corruption platform BIRD and local activists, prompting police to swoop on May 26.
They found a development called the Forest Club, built on protected green-belt territory on the outskirts of Varna, near the remains of the Aladzha cave monastery and the Golden Sands seaside resort.
The suburbs of the popular summer holiday destination have seen a boom in new dwellings over the last two decades.
The disputed investment is a project of Ukrainian real estate entrepreneur Oleg Nevzorov and his development firm, KYB Corporation , which was based in Odesa in Ukraine, and in Varna since 2022, the year Russia’s full-scale invasion of Ukraine began.
In 2025, Bulgaria’s National Security Agency accused Nevzorov of laundering money through the construction industry and ordered him to leave the country. But the measure was then revoked.
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Read the full article at Balkan Insight (BIRN) →📄Source document: Bulgaria's National Security Agency
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Balkan Insight (BIRN)IndependentCenter10 days agoA political controversy erupted in Bulgaria after police raided an upscale housing development near Varna, discovering 104 newly-built homes and detaining 29 workers from Ukraine and Moldova. The site, known as the Forest Club, was constructed on protected green-belt land near historical and tourist sites. The project is linked to Ukrainian real estate developer Oleg Nevzorov and his firm KYB Corporation, which has been operating in Bulgaria since 2022. In 2025, Bulgaria's National Security Agency accused Nevzorov of money laundering through the construction sector and ordered him to leave the
Bias read (Center): The article presents facts without overtly favoring any side. It describes events objectively, citing investigations by BIRD and local activists, police actions, and the involvement of Ukrainian businessman Oleg Nevzorov. There is no clear indication of biased language, one-sided sourcing, or ommis
Official sources cited
- government Bulgaria's National Security Agency
Serbia