RECOMMENDED FOREX BROKERS
Do not invest more money than you can afford to lose.
Four individuals from Bulgaria have been charged with being a part of an organized criminal group, which was established to launder money, commit tax fraud and computer fraud. This information was announced by the investigators and prosecutors who are conducting an investigation into the crypto lender Nexo, on Friday.
The Prosecutors announced that the accused individuals have luxury properties in Dubai and the Bahamas, which include a few yachts. The investigators also reported that they have seized 35 works of art, including those by Salvador Dali, Henri Matisse and Pablo Picasso, from one of the accused.
The officials have reported that two of the individuals charged have already been taken into custody. The Prosecutors will be seeking bail of 1 000 000 levs (about $554 000) for each of them. Warrants have also been issued for the search of the other two individuals who have been charged in this case.
Bulgarian officials have revealed that the four individuals charged with participating in the organized crime group have been operating in multiple countries such as the United Kingdom, Switzerland, Bulgaria and the Cayman Islands since 2018.
The Bulgarian prosecutors announced yesterday that they have launched an investigation into the alleged illegal activities conducted by crypto lender Nexo. As a part of this investigation, they carried out raids at the lender’s office and 14 other locations in the capital city of Sofia. According to officials, over the past five years, crypto transactions worth $94 billion have been made through the Nexo platform.
The investigators have reported that they have examined over 4 million crypto transactions on the Nexo platform and discovered that some of these transactions were in violation of EU and US sanctions against Russia. Additionally, some of the transactions were found to be linked to an individual with a history of financing “terrorist” activities.
Nexo denied any wrongdoing.
“There was a flurry of allegations, all of which Nexo vehemently denies as the platform utilizes the highest possible standards with regard to know-your-customer and anti-money laundering practices to ensure the safety of our customers and the enterprise as well,” the crypto lender said in a statement to Reuters.
The investigation is ongoing, as more than 20 people have been questioned so far, and an international financial audit of Nexo will be conducted. The Prosecutors have stated that the investigation is expected to take several months to complete