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According to several reports, the Bulgarian police investigate nexo crypto lender for allegations of money laundering and sanctions. Siika mileva, a spokesman on behalf of the Attorney General of Bulgaria, The probe in nexo is a large-scale operation involving 300 surveyors from different organizations, including the NSA, gendarmerie, The Sofia Police Department.
Siika Mileva, a spokesman on behalf of the Attorney General of Bulgaria, The Nexo probe is a large-scale operation with 300 investigators from different organizations, including the National Safety Department, Gendarmerie, and the police in Sofia.
Raid by Bulgarian security forces Offices of Nexo Crypto Lender for alleged money laundering and breach of sanctions. The company is being investigated for violation of sanctions against Russia and money laundering crimes, according to siika mileva, spokesman of the Prosecutor General of Bulgaria. The company is being investigated for violations of sanctions against Russia and money-laundering crimes, according to Siika Mileva, spokeswoman for the Bulgarian public prosecutor's office.
Chief of the cybercrime unit in Bulgaria, Svetlio Vasilev, said: Who gets charged for the crimes remains to be determined. Over 15 addresses are searched and new individuals of interest are identified.
Nexo, which is based in London but also operates offices in Sofia where the raid occurred, immediately denied any wrongdoing in a tweet statement following the article. Over the years, we have turned down a lot of business because nexo never compromises on our very strict AML and KYC policies. But we've always known that's how you build a sustainable enterprise," the company said on Thursday. Nexo added:
Unfortunately, with the recent regulatory crackdown on crypto, some regulators have recently adopted the kick first, ask questions later approach. In corrupt countries, it is bordering on racketeering.
In corrupt countries, it's bordering on racketeering. The news comes in response to reports in late September 2022 that half a dozen U.S. securities regulators are probing nexo and prosecuting the company's loan services. New York State and Attorney General Letitia James have also launched legal proceedings against Nexo. As a result of James' lawsuit, nexo stated that it was leaving the US market.
The spokesman of the Attorney General of Bulgaria said that about 94 billion dollars have been channelled by nexo in the past five years. After James' prosecution, Nexo stated that it was leaving the American market. in addition to searching the offices in sofia, prosecutors clarified that the investigation was initiated several months after suspicious transactions were allegedly carried out.
Allegedly, the transactions reported were aimed at circumventing Western sanctions imposed on the Russian Federation. How do you feel about the allegations against nexo and the ongoing investigation into their trade practices?
