Controversial Bulgarian MP Peevski Quits Businesses

Bulgarian MP, businessman and media mogul Delyan Peevski - who was recently called "the iceberg of corruption in Bulgaria" by Germany's Der Spiegel - is giving up on business projects in Bulgaria, he announced on Monday.

Peevski also declared his withdrawal from a bid to acquire the assets of the insolvent communist-era chemical factory Chimko, which he claimed in January through his company NSN Investment.

The MP from the ethnic-Turkish dominated Movements for Rights and Freedoms, MRF, attributed his decision to "unfounded political pressure and continuous media campaign" against him, which he said had exerted an "exceptionally negative effect" on the firms in which he holds shares as well as on companies he has nothing to do with.

"I find it unacceptable for an EU member state that through pressure and negative campaigns the good reputation of Bulgarian companies is being discredited and their activity is being challenged," Peevski said.

"Let my political opponents and those who speak against me feel content that they have achieved their goals - I am giving up on participating in Bulgarian business projects," the MP explained.

Peevski has long been a controversial figure in Bulgarian politics. His dizzy-making political and business ascent has become a symbol of corruption for much of society.

In June 2013, when he was appointed head of the national security agency, DANS, the biggest street protests that Sofia had seen in over a decade erupted. 

Since then, after 15 years of political and economic success, the 35-year-old owner of a media empire has come under more fire.

On February 12, Turkish media outlets reported that Turkey had banned him and the honorary chairman of the MRF, Ahmed Dogan, from...