Nexo investigation not political, says Bulgarian prosecutor’s office

Siika Mileva, spokesperson for Bulgaria’s chief prosecutor, denied that the investigation in opposition to cryptocurrency lending firm Nexo is politically motivated., in keeping with native reviews. The feedback have been made in response to claims the investigation had a connection to the corporate’s political donations.

Nearly each case during which a prosecutor’s workplace launches an investigation that impacts somebody’s monetary pursuits leads to assaults and accusations.Mileva stated, including that “it has grow to be a nationwide sport to assault establishments.”

On January 12, a bunch of prosecutors, investigators and international brokers searched the corporate’s places of work in Sofia, the Bulgarian capital.. The operation focused a large-scale cash laundering scheme, in addition to violations of Russia’s worldwide sanctions.

In lower than 48 hours after the Nexo places of work have been searched, 4 individuals have been accused of cash laundering, tax crimes, pc fraud and banking actions with out a license. Two individuals have been launched on almost $550,000 bail. The opposite two stay unaccounted for in Bulgaria and have been declared internationally wished individuals. It’s not clear if the people have been associated to the cryptocurrency firm.

In response to Mileva, the transactions carried out by Nexo amounted to 94,000 million {dollars} in a interval of 5 years. An organized prison group working in a number of nations since early 2018 is underneath investigationidentified the spokesman.

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On twitter, Nexo complained in regards to the legislation enforcement raid, saying it was getting ready a lawsuit for the damages attributable to the abrupt police interruption. The corporate referred to as the authorities’ strategy “kick first, ask questions later.”

In response to the corporate, the investigators didn’t present a search warrant for an hour.s, whereas the inspectors by no means recognized themselves to Nexo staff.

We’re all the time cooperating with the related authorities and regulators, and we hope to have thrilling information within the coming weeks. 7/

Nexo operates an funding platform the place customers can stake and borrow in opposition to cryptocurrencies. Though it has places of work in Bulgaria, the agency doesn’t present companies to residents of the nation resulting from potential regulatory points.. The corporate was based in 2018 and has places of work within the UK, Bulgaria and Switzerland.

In December 2022, Nexo introduced that it could part out its US operations. as a result of lack of clear regulatory cooperation with US authorities.

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