Bulgarian National Bank (BNB) turned down the banking licence request of Financia Bank, 70 per cent owned by Bulgaria’s Alfa Finance Holding and US-based Gramercy Financial Group (30 per cent of the capital).
see:
http://www.focus-fen.net/?id=n140128&PHPSESSID=86ogb5o95pu9mbjgpjfe8evmk3
Gramery Financial Group LLC, seems to be at 111 East 22nd Street Suite #4-C - New York, NEW YORK NY 10010 US.
There seems to be a criminal file in NY in the appellate court.(
http://www.criminallawlibraryblog.com/NY_AppDiv1_Index_04-22-08.pdf)
The Alfa Finance Holding seems to evolve around Ivo Prokopiev (
http://www.transfuse-association.org/bios/BioIP.html)
Alfa Finance, making a name for itself in all the surrounding states, has recently acquired IPB Bank in Macedonia. (
http://www.seenews.com/business/dealwatch/investments/bg_alfa_finance_holding_buys_ipb_bank/)
Generally there seem to be some discussions on the origin of funding and compliance with the local rules has not been noted.
