Kapoustin Brought To Trial

KAPOUSTIN BROUGHT TO TRIAL For more than three years thousands of citizens who have deposited their money with pyramids are waiting for someone to give them something back and punishment for the Pharaohs who enticed them. Last week the National Investigation Service closed the files under the case against the chief of Life Choice Int. Michael Kapoustin with the opinion to sue him. The prosecutors are definite that they are not going to return it for more investigations and are writing intensely the indictment, which will be submitted to the magistrates these days. The idea for the business implanted on Bulgarian ground by Kapoustin was born about ten years ago. The first company bearing the name of “Life Choice” appeared in the USA in 1986 and its Bulgarian version - Life Choice Int. was registered in 1993 with share capital of 1 000 000 lv totally deposited by the date of registration. The company attracts shareholders by its numerous projects and at the beginning they really invest money in them (in the projects). The range of projects is large – starting with issuing of health cards for the shareholders of the company, passing through new technologies for production of medicines including ones against the plague of the century – AIDS; and finishing with processing of waste oils into energy resources. But all this was more or less the window-dressing to convince the depositors that money are invested in noble and profitable undertakings. The most attractive proved to be the offer for the ODR through which the amounts invested become part of the capital and the assets of the company. Kapoustin himself assured at that time that the money deposited by the investors would be used for financing of projects developed in Bulgaria. In fact ODR is an investment instrument bearing fixed dividend. This dividend is paid monthly or at once after the period of time for which the deposit has been made has expired. Its usual term was one year and the minimum amount of money deposited – 10 000 lv or its equivalent in foreign currency. After capitalization the annual profit as they ascertain amounts to 151%. These overwhelming figures enticed more than 10 000 credulous Bulgarians who “presented” almost $ 17 million to the Canadian of Bulgarian origin Michael Kapoustin. It is true that the first ones who turned in the scheme for a short time and retired on time made quite a lot of money. But most of the “investors” burned down. Michael Kapoustin has been under investigation since October 1995 when Sofia City Prosecutor’s office receives warnings from deceived citizens. Like most of the Pharaohs who found security abroad Kapoustin left Bulgaria too, but in August 1996 Interpol found him and brought him back to Bulgaria from Frankfurt. Canadian justice has pretensions towards him but his sins in Bulgaria seem to be more. He will be in charge of fraud of particularly large scale ref. art. 211 of the Criminal Code. The indictment against him is more than 1000 pages. Four thousand seven hundred and thirty one witnesses have been questioned and 350 files of materials have been gathered under this case. Iva Nedkova Translation M. Radoulova September 8, 1999