On Wednesday, the Bulgarian Ministry of Justice reported that Bulgaria stripped Russian millionaire Serguei Adoniev of the citizenship because he was found guilty of fraud in the USA about 20 years ago.
In an effort to join the Schengen Agreement, Bulgaria stated that it plans to stop the practice of selling citizenship to wealthy foreigners in exchange for an investment, which allows them to move freely within the EU.
Adoniev is ranked 147th in the list of Russia’s wealthiest businessmen, compiled by the Russian edition of Forbes magazine. His net worth is estimated to be 700 million dollars.
He was a benefactor for one of the candidates for the presidency of Russia, Ksenia Sobchak, at last year’s election.