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The walls are closing in on Nexo

By ZeroRequiem | Zero Ex | 17 Jan 2023


Hey Peeps!

 

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On January 12th, Nexo’s offices in Bulgaria were raided as part of an investigation into financial crimes, money laundering, and even violations of international sanctions against Russia.

The next day, four Bulgarian nationals were arrested by the Bulgarian Prosecutor’s Office in relation to the ongoing investigation into Nexo. 

However, the Bulgarian Prosecutor's office refused to say if the arrested individuals were Nexo employees or not. 

 

"There are authorities at one of Nexo’s offices in Bulgaria which is as you know the most corrupt country in the EU. They are making AML and tax-related inquiries about a Bulgarian entity of the group that is not customer-facing but only has back-office functions - payroll, customer support, and compliance. We are one of the most stringent entities with regards to KYC/AML.

- Antoni Trenchev, Nexo co-founder 

 

Following a press conference by the Bulgarian Prosecutor's Office announcing the arrests, Nexo essentially attacked the office by calling them "nefarious characters" and that they have "no understanding of blockchain technology". 

The spokesperson for the Bulgarian Prosecutor General, Siika Mileva, hit back at the comments by Nexo saying that "it has become a national sport to attack the institutions."

 

It is important to remember that Nexo is also being investigated in both the USA and UK over allegations of Fraud. 

Back in September 2022, the California Department of Financial Protection and Innovation (DFPI) announced that they had joined securities regulators in seven other states (Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington, Vermont) to bring legal action against Nexo regarding it's Earn Interest Product accounts.

In November of 2022, Nexo was hit with a lawsuit from investors in London who said they were blocked from withdrawing nearly $130 million, when Bitcoin and many other cryptocurrencies were near their all-time highs. 

 

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The report from BNT went on to state that "suspicions are that the Bulgarians behind the big company acted on the scheme of Ruja Ignatova and the pyramid of OneCoin she led."

This would be incredibly shocking stuff if it turned out that Nexo had a link to one of the FBI's Ten Most Wanted Fugitives, Ruja Ignatova, and her insane OneCoin pyramid scheme.

 

Nexo is not looking so hot right now after all this recent news, and the fact they are being investigated by multiple agencies on different fronts. 

I must admit, I am concerned about Nexo and I am extremely happy I never made the plunge into Nexo and took advantage of their amazing rates. 

 

How are you feeling about Nexo after this string of news?

Do you think Nexo has anything to do with the founder of the OneCoin pyramid scheme, Ruja Ignatova?

 

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See ya!

:)

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ZeroRequiem
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Writer ✍️ Crypto • Finance • Gaming • Politics 🟢 Follow me: https://linktr.ee/zerorequiem0x


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