Fraud Alert: Zarko Palankov
FRAUD ALERT! Svetozar “Zarko” Palankov
Svetozar “Zarko” Palankov claims to be the “Founder and President” of The Global Language Network.
The Global Language Network was founded solely by Andrew Brown, in September 2005, nearly two years before Mr. Palankov began volunteering on a part-time basis with the organization.
Mr. Palankov began employment with GLN in 2008 and his position from 2008 until his termination in February 2015 was Assistant Director.
At no time did Palankov serve as “President” and he was certainly not a founder in any capacity. Any claims to the contrary are fraudulent and at complete variance with GLN’s corporate documents.
The position of President is an elected position on GLN’s Board of Directors and at no point during Mr. Palankov’s short time with GLN was he ever elected to the position of President.
Mr. Palankov served as Secretary on GLN’s Board of Directors from 2005 until February 2008. One of the fiduciary duties of Secretary is to maintain accurate records of corporate documents and minutes of the Board of Directors.
GLN Legal Counsel discovered fraudulent Board of Directors meeting minutes maintained by Palankov, inventing meetings that never took place and scripting entire discussions that never happened. One such discussion was where Palankov “adopted” the title of “President”.
It is of personal opinion that Palankov may have “adopted” the title of President, and has since claimed this title publicly, in order to support a fraudulent Green Card Application that he submitted for himself, hiring legal counsel with GLN funds, without authorization of GLN’s Board of Directors whatsoever. In this Green Card Application, Palankov claimed to be President of GLN, a position title that would have caused the Department of Labor to force GLN to raise Palankov’s compensation to approximately $117,000 per year, an amount nearly equal to GLN’s entire annual budget. Palankov was aware of this and nonetheless pursued the application without taking any necessary accountability measures with GLN’s Board of Directors.
Palankov was terminated in February 2015 by unanimous vote of GLN’s Board of Directors. GLN’s President and Chairman of the Board summoned Palankov on behalf of the Board of Directors, and requested certain financial reports as well as answers as to why the website domain had been removed from GLN’s ownership to a private account established by Palankov at some point in February 2015. Palankov refused the meeting and claimed to be “busy making breakfast” at the time and date requested by the Board.
When confronted with multiple concerns Palankov did not apologize or show remorse, rather, he replied “so fire me.”
Palankov was terminated February 2015 and nonetheless continued to claim to be GLN’s Founder and President. After initially refusing to return GLN property, office keys, and key documents, Palankov eventually succumbed to legal pressure, perhaps due to his visa being out of status upon his termination.
GLN still seeks clarification as to why Palankov transferred over $89,000 of GLN charity funds to his personal PayPal account without receiving authorization from the Board of Directors. Nonetheless, Palankov requested additional funds upon his termination. As per GLN’s legal obligation, GLN attempted to pay to transport Palankov back to Bulgaria once his visa became out of status, however he did not accept the offer.
Palankov may still be in Washington, DC, misrepresenting his role at GLN in order to gain employment. If you are an employer we urge you to contact us immediately. He may have established a company LeadIn or Lead.In, and may be misrepresenting himself to the public.
GLN Legal Counsel attempted to serve Palankov a subpoena on multiple occasions and Palankov avoided service in each instance.
GLN requests that any individual who knows the whereabouts of Mr. Palankov or any details of his actions to contact GLN immediately.
———- Forwarded message ———-
From: Andrew Brown
Date: Fri, Feb 27, 2015 at 9:02 AM
Subject: Zarko’s dismissal effective immediately
To: “All GLN Volunteers and Staff”
Cc: “GLN Board of Directors”, “GLN Legal Counsel”
CC: GLN Legal Counsel