TIM is an
organized crime syndicate
Organized crime is a category of transnational, national, or local group of centralized enterprises run to engage in illegal activity, most commonly for profit. While organized crime is generally thought of as a form of illegal business, some ...
incorporated as a
holding company
A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...
based in
Varna, Bulgaria
Varna (, ) is the List of cities and towns in Bulgaria, third-largest city in Bulgaria and the largest city and seaside resort on the Bulgarian Black Sea Coast and in the Northern Bulgaria region. Situated strategically in the Gulf of Varna, t ...
.
The company is controlled by three veterans of an elite communist-era military unit: Tihomir Mitev, Ivo Kamenov, and Marin Mitev. The abbreviation TIM stands for the first letters of each of the owners' first names.
According to a
leaked diplomatic cable, TIM has been engaged in
organized criminal activities. As chronicled by German journalist Jan Puhl in an article for
Der Spiegel
(, , stylized in all caps) is a German weekly news magazine published in Hamburg. With a weekly circulation of about 724,000 copies in 2022, it is one of the largest such publications in Europe. It was founded in 1947 by John Seymour Chaloner ...
, TIM started out as a private security firm in 1990s, whose starting capital was acquired through smuggling, prostitution, gambling, car theft, and drug trafficking. Subsequently, TIM invested its money in various legal ventures and grew into a holding company employing over 30,000 people, making it the largest and most influential employer in
Varna
Varna may refer to:
Places Europe
*Varna, Bulgaria, a city
** Varna Province
** Varna Municipality
** Gulf of Varna
** Lake Varna
**Varna Necropolis
* Vahrn, or Varna, a municipality in Italy
* Varna (Šabac), a village in Serbia
Asia
* Var ...
.
[Jan Puhl]
''Bulgarien - In Flammen''
Der Spiegel, issue no 19, 2013-5-6, pp. 86-88
References
Notes
*Betty Ganeva
''Pik-Dame und ihre erste private Stadt'' Bulgarisches Wirtschaftsblatt, 2012-12-3
''Bulgarian who set himself on fire new symbol of protests'' Agence France-Presse
Agence France-Presse (; AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.
With 2,400 employees of 100 nationalities, AFP has an editorial presence in 260 c ...
, 2013-3-5
Bulgarian Mafia
Organized crime groups in Bulgaria
Holding companies of Bulgaria
Economy of Varna, Bulgaria
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