The Commercial Department of the Sofia City Court has condemned Julian Tsolov to pay his former client BGN 93,840 for unfinished work under a contract that was concluded between Tsolov's trading company and the client trading company, BNT reported.
In addition, Tsolov must also pay a penalty for breach of contract in the amount of BGN 18,768, as well as nearly BGN 21,000 in costs in the case.
Tsolov, known as "the Bulgarian Wolf of Wall Street" has concluded a contract with the client company for the provision of services related to the use of software and platforms for internet trading and their support.
According to the court composition, from the evidence in the case, it appears that the client company (contractor) fulfilled its obligations by paying Yulian Tsolov the remuneration agreed in the contract, even more, it also paid an additional remuneration, which was agreed in a prepared Annex before it is signed. Against these amounts, however, the contractor has not provided the services that are under the contract.
The decision is not final and can be appealed to the Sofia Court of Appeal.
There is also a criminal case against Tsolov in the Sofia District Court. According to it, he is accused of fraud in the amount of over 770,000 BGN.
Tsolov has already been convicted and served a 4-year prison sentence in the US for stock market fraud. That's where his nickname comes from.