Bulgarian Chief Prosecutor’s Office spokesman, Siika Mileva, denied any political motivation behind the investigation into crypto lending platform Nexo. Mileva stated that the investigation into these organizations has become a nationwide movement and that the case involves so-called “cybercrime modern offenses” which has been conducted in collaboration with international partners for several months. Additionally, an independent international auditor will be reviewing Nexo’s activities.
On January 12th, Bulgarian police conducted a raid on Nexo’s offices and announced that they would be coordinating with authorities in the United States and United Kingdom to investigate Nexo’s alleged money laundering and tax crimes. Four Nexo employees have been charged with money laundering, tax crimes, computer fraud, and unlicensed banking operations. Two of the individuals have been released on bail of nearly $550,000 and the remaining two individuals have yet to be located and have been declared international fugitives.
Nexo Investigation
The investigation into Nexo’s alleged money laundering and tax crimes has been ongoing for several months in collaboration with international partners, according to the Bulgarian Chief Prosecutor’s Office. The investigation is said to involve so-called “cybercrime modern offenses.”
Raid on Nexo’s Offices
On January 12th, Bulgarian police conducted a raid on Nexo’s offices and announced their coordination with authorities in the United States and United Kingdom to investigate the alleged crimes. Four Nexo employees have been charged in connection with the case.
Arrests and Bail
Two of the individuals charged in connection with the case have been released on bail of nearly $550,000, while the remaining two individuals have yet to be located and have been declared international fugitives.
Independent Audit
An independent international auditor will be reviewing Nexo’s activities as part of the ongoing investigation, according to the Bulgarian Chief Prosecutor’s Office spokesman.