The former president and the chief executive of Bulgarian football team CSKA Sofia have been charged with embezzlement and document fraud, prosecutors in Sofia said on Friday.
Alexander Tomov and Alexander Garibov have been charged for misappropriating funds from the CSKA football club and syphoning off cash from the Kremikovtzi steelmaking plant on the outskirts of Sofia, prosecutors said in a statement.
CSKA and the debt-ridden steelmaker are both owned by Indian steel tycoon Pramod Mittal, the younger brother of Arcelor's Laksmi Mittal. And funds were readily transferred between the two when Tomov was serving as both CSKA president and Kremikovtzi chief executive, the prosecutors allege.
Two other Kremikovtzi officials were facing similar charges, they added.
If found guilty, the four could face jail sentences of 10-20 years.