Searches are ongoing in Bulgaria at the offices and residences of the owners of the arms trading company SAGE CONSULTANTS AD. The investigation is being conducted by the National Investigation Service of Bulgaria based on a request for international legal assistance from the National Anti-Corruption Bureau of Ukraine.
According to Ukrainian law enforcement, the investigation concerns price gouging during the supply of weapons to Ukraine. The Bulgarian publication “PIK” reports that the company is also suspected of circumventing international sanctions and trading with Russia.
“SAGE CONSULTANTS AD” is owned by Bulgarian businessmen Gencho Hristov and Hristo Hristov. The latter became famous after he purchased a villa in Beverly Hills (USA) for $34.6 million in 2019. Hristo Hristov owns an arms production facility in the city of Plovdiv, where he employs about 500 people. His partner Gencho Hristov is an active investor in the real estate market in Sofia.
Bulgarian journalists also mention possible connections between the Hristov brothers and Bulgarian President Rumen Radev. The official website of the Bulgarian Telegraph Agency published a photo from the 2024 arms exhibition, where Gencho Hristov demonstrates the company's products to Radev.
The investigation is ongoing, and details regarding the alleged schemes and scope of the weapons supply are not being disclosed at this time.
