There is a large-scale international operation going on in Sofia-based Russian company NEXO for alleged financial crimes like fraud, violation of international sanctions violation, and money laundering.
As per reports, Nexo offices in the capital of Bulgaria are being raided by prosecutors from the national security and DANS along with the cooperation of foreign agents. The company is known for trading crypto globally.
Recently, the investors were called into the Bulgarian offices and were asked to invest in Bitcoin and other cryptocurrencies with a promise of high returns. The percentage of the returns which were promised was much higher than the actual profit margin that the national banking firms and institutions provide.
The raid is based on the suspicion that the Bulgarian office employees were working on the scheme of Ruja Ignatova, who also runs OneCoin. Popularly known as the Queen of Cryptocurrencies in the country, she is among the top 10 FBI wanted list, also wanted by Interpol and Europol. The company is owned by a former parliament member and the son of the formal social minister from the NDSV party.
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The Russian authorities have been cracking on crypto companies as there were several transactions reported that breached the regulatory law of the U.S., European Union, and Great Britain which is against the trading policies with the Russian banks.
NEXO Tweets To Take Stance
NEXO has taken to its Twitter space to give a clarification on the raid. In its tweet, they mention that the firm has turned down many businesses because they never compromise its values. They have always been a company that strictly follows anti-money laundering.
The firm also wrote that they have gone the “extra mile” to adhere to the regulations and provide a good value-based experience to the customers. They also pointed out that when the war broke out they raised money to help the victims. They went on to criticize the authorities saying that they have “adopted the kick first, ask questions later approach.”
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