Bulgarian police on Thursday have raided Nexo's office in Sofia as part of an investigation into suspected money laundering, Bloomberg reports.
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As per Siyka Mileva, a spokeswoman for Bulgaria's chief prosecutors, over 300 police officers and prosecutors are taking part in the investigation. She also said the law enforcement is investigating Nexo over alleged money laundering, tax crimes and other criminal violations.
Nexo Co-Founder, Antoni Trenchev, confirmed in a commentary to Bloomberg that Bulgarian police officers have raided the company's office, adding that the allegations are "absurd."
"They are inquiring about a Bulgarian entity of the group that is not customer facing but only has OpEx related functions. This is a coordinated attack as is evident from the absurd allegations."
The investigation comes just a month after Nexo left the US market, saying that the dialogue with regulators "has come to a dead end." Nexo noted that despite "inconsistent and changing positions" among state and federal regulators, the company tried to provide all the requested information and to adjust its business in response to their concerns.
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