Alexey Petrov, a well-known businessman, was killed in Sofia

According to authorities, a prominent Bulgarian businessman was shot and killed in broad daylight on Wednesday.

His career’s ups and downs were a reflection of his nation’s journey from communism to democracy. Alexey Petrov was shot by unknown assailants about midday in a Sofia suburb, according to the police, and died instantly.

He was with a woman who was hurt and had a gunshot wound; she was brought to an emergency hospital. Police are investigating the crime scene, and pre-trial proceedings have already begun.

At least two further attempts on Petrov’s life, at 61, failed. Petrov, a former state security agent and champion in karate, quit his position as a police officer after communism fell in order to launch a private company.

It took off, and by 2002, he was an associate in more than 50 businesses. He was detained in 2010 and accused of being the leader of a criminal organization involved in extortion, racketeering, drug trafficking, money laundering, and tax evasion.

The following year, he even ran for president after being granted bail and ultimately being found not guilty.

Petrov oversaw one of the largest insurance firms in the nation in recent years. In addition, he advised the head of the State Agency for National Security.

For a while, he also taught economics at the university level. Public figure murders were a routine occurrence in Bulgaria during the 1990s, so the recent escalation of violence has surprised the nation.