Last Updated on January 12, 2023 by Bitfinsider
Local police seized the Bulgarian headquarters of cryptocurrency lending platform Nexo as part of an investigation into possible money laundering and tax evasion.
According to a Nexo spokeswoman, police are examining a Bulgarian firm that is not client-facing but has operational tasks such as payroll and customer service.
“The allegations are ridiculous – we are one of the most strict institutions in terms of KYC/AML,” said Nexo co-founder and managing partner Antoni Trenchev in a statement.
According to Bloomberg, more than 300 police officers, prosecutors, and national security officials are participating in the operation, citing statements from Siyka Mileva, a spokesman for Bulgaria’s senior prosecutors. Nexo, located in London, is accused of money laundering, tax evasion, and unlawful banking operations, according to Mileva.
In recent weeks, Nexo has been in talks to acquire competitor lender Vauld. Vauld rejected Nexo’s latest proposal, raising concerns about the company’s liquidity.
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