Nexo Office in Bulgaria Reportedly Raided Over Financial Violations

  • As a result of the raid, NEXO has resorted to Twitter to elaborate.
  • The company also claimed they went the additional mile to meet all applicable laws.

The Russian firm NEXO, with headquarters in Sofia, is the subject of a massive international operation for suspected fraud, sanctions violations, and money laundering.

Reports indicate that prosecutors from the national security and DANS, with the assistance of foreign operatives, are conducting a raid on Nexo headquarters in the Bulgarian capital. The firm has gained worldwide recognition for its cryptocurrency trading activities.

Investors have recently been lured to the Bulgarian offices. With the promise of large profits in exchange for purchasing Bitcoin and other cryptocurrencies. The projected return rate was much larger than the margin of profit generated by national financial institutions. The NDSV party’s former social minister and his son, a former member of parliament, control the corporation.

Clamping Down on Crypto Firms

The Bulgarian office was targeted because of concerns that its workers were complicit in OneCoin. And other schemes organized by Ruja Ignatova. She is sought by the FBI, Interpol, and Europol. And is often referred to as “the Queen of Cryptocurrencies” in the United States.

Because of several transactions that violated U.S., EU, and UK regulatory legislation and are thus against trade regulations with Russian banks, the Russian government has begun clamping down on crypto firms.

As a result of the raid, NEXO has resorted to Twitter to elaborate. The company tweets that it has turned away numerous clients because it would not violate its principles. They’ve always been a firm that takes anti-money-laundering measures seriously.

The company also claimed they went the additional mile to meet all applicable laws and give consumers excellent service at fair prices.

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