Nexo Suspected Of Money Laundering And Fraud By Bulgarian Poli | Bitcoin Networks

Nexo Suspected Of Money Laundering And Fraud By Bulgarian Police

Summary:

The crypto lender’s office in Bulgaria was raided on suspicions of fraud, money laundering, and tax evasion.Local authorities also claimed to have evidence proving that a Nexo user financed terrorism.The company said they’re cooperating with law enforcement and assured users that the uncertain period “too shall pass”.Nexo’s Bulgarian division was raided by local law enforcement on Thursday due to suspicions that the crypto lender facilitated fraud, money laundering, and tax evasion. According to the official report, Bulgarian police are investigating the company’s domestic entity that boasts operational functions including payroll and customer support.

In addition to fraud and tax evasion allegations, local authorities also believe a Nexo user financed terrorism by leveraging the cryptocurrency platform. The statement from Bulgaria’s prosecutor’s office said over 300 law enforcement agents are part of the investigation to “neutralize the criminal activity” at the giant crypto lender.