Bulgarian Company Boss Gets 1 Year, 8 Months for Wage Theft and Fund Misuse
A Bulgarian company, registered with no economic activities or turnover, has faced severe consequences. Its managing director was convicted for wage loss and misuse of funds, resulting in a suspended prison sentence of one year and eight months.
The convicted individual, who operated a company supervised by the Main Customs Office Landshut in the food industry, was found guilty in 46 cases. They withheld wages and misappropriated funds, totaling over 125,500 euros in unpaid social security contributions. This included health, pension, long-term care, and unemployment insurance for employees.
The convicted person failed to register employees with the competent authority for social security contributions for over two years. The company was registered in Bulgaria but used a letterbox address, indicating a lack of genuine economic activity.
The convicted individual's actions have had significant financial implications, affecting both employees and the social security system. Despite the suspended sentence, the conviction serves as a stern warning against such practices.
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