• Bulgarian police denied any political agenda behind the recent raids on Nexo’s office in Bulgaria.
• The news about the Nexo investigation comes within a month of its exiting the US market in December 2022.
• Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, however, has denied any political motivation behind the probe against crypto lending firm Nexo.
The Bulgarian police recently launched an investigation into crypto lending firm Nexo, in a probe over alleged tax evasion and money laundering. The raid took place last week on January 12 and it involved a group of prosecutors, foreign agents, and investigators searching Nexo’s Bulgaria office. This news comes within a month of Nexo’s exit from the US market in December 2022.
Following the raid, there were allegations that the investigation had a connection with the company’s political donations and that it had a political agenda. However, Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, denied any such claims. Mileva argued that it has become a national sport to attack the institutions when a prosecution starts an investigation that affects someone’s financial interests. She also stressed that in almost all cases in recent years, wherein a prosecution starts an investigation that affects someone’s financial interests, leads to accusations and attacks.
The Bulgarian police are still investigating the case and the details of the probe are still unknown. However, Nexo’s legal team has released a statement expressing their shock over the incident and stressing that the company has always abided by the law. They also assured the public that the company has all the necessary documents to prove their innocence.
Nexo is a crypto lending firm that provides its users with the ability to borrow money against their cryptocurrencies. It is one of the largest and most popular crypto lending firms in the world. The company has offices in Bulgaria, the UK, the US, and Canada and it has over 1 million customers worldwide.
The news of the investigation has caused a stir in the cryptocurrency community, with many questioning the motivations behind the raids. However, it is still unclear what the outcome of the investigation will be and whether Nexo will be found guilty of any wrongdoing. In the meantime, Nexo and its legal team will continue to cooperate with the authorities and provide all the necessary documents to prove their innocence.