The post Bulgaria Closes Investigation Into Nexo Citing Lack Of Evidence appeared on BitcoinEthereumNews.com.

The Bulgarian Prosecutor’s Office has ended its investigation into crypto lender Nexo’s alleged money laundering, stating it did not find any evidence of wrongdoing or criminal activities.  The prosecutor’s office also added that it did not find any evidence of tax offenses or computer fraud against the defendants either.  Bulgarian Prosecutor’s Office Ends Investigation  The Prosecutor’s Office of the Republic of Bulgaria has announced that it is closing its investigation into crypto lender Nexo, citing a lack of evidence. According to news agencies based in the country, the office stated it found no evidence of tax crimes, money laundering, computer fraud, or any other criminal activity. The probe into the company first came to light in January 2023 after authorities stated they had considerable evidence against a Nexo user for illegal activities. Attorney General Siika Mileva had stated at the time,  “The main organizers of the scheme are Bulgarian citizens, and the activity was carried out mainly from the territory of Bulgaria. Evidence has been collected that a person who used the platform and transferred cryptocurrencies has been officially declared a terrorist financing person.” According to an official statement released by the authorities, the main reason behind the decision to drop charges was that cryptocurrencies and crypto assets are not considered financial instruments in Bulgaria and fall outside of laws for payment services and systems. The charges against the crypto lender were related to events that transpired between 2018 and January 2023. They alleged that defendants Antoni Trenchev, Kosta Kanchev, Kalin Metodiev, and Trayan Nokolov participated in an organized criminal group.  Charges Politically Motivated  Speaking after the dropping of charges against the lending platform, Nexo co-founder and managing partner Antoni Trenchev called the charges politically motivated and stated that they should not have occurred in the first place. Trenchev stated, …

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Filed under: News - @ December 24, 2023 9:58 am