Ponzi scheme under the guise of EU funds: Former GERB employee defrauds nearly 1 million euros

A large-scale financial fraud, hidden behind false promises of participation in EU fund programs, has been uncovered in Bulgaria. At the center of the scandal is Ginka Borisova – a former employee of the GERB administrative team, who managed to defraud nearly 1 million euros from dozens of citizens.

According to the investigation, the scheme operated from September 2020. Borisova attracted victims with the promise that by taking out large loans, they would receive significant financial bonuses from European funds. To instill trust, she used a forged document that appeared official – containing the personal data of party leaders and fake power of attorney numbers. Victims were convinced that the party would cover their monthly loan installments.

Organized network and psychological pressure

The fraud was not just an individual action but involved a network of accomplices. A credit consultant and even a beautician, who advertised the "program" to her clients, were involved. Borisova exerted serious pressure on participants to attract new people, under the pretext that they had to meet official "targets."

The reality for the victims is tragic – entire families have been left with debts in the hundreds of thousands of euros. One victim shared that she brought her husband and daughter into the scheme and is currently alone, burdened by a 150,000 euro loan.

The collapse of the scheme

The pyramid began to crumble when Borisova started justifying the lack of money with "technical problems" and fake news about her mother being on her "deathbed." When the victims checked the information at the GERB headquarters, they realized that Borisova had been dismissed long ago.

GERB states that the documents were complete forgeries and that the party only learned of the former employee's actions after a journalistic investigation. Currently, Ginka Borisova is under a non-departure order and is in custody. It is suspected that the defrauded funds were used for a luxury lifestyle – expensive vacations and cosmetic procedures.