Nexo co-founder Antoni Trenchev disputed charges by Bulgarian police after they raided the crypto lender’s Sofia office last month as part of an investigation into suspected money laundering and tax crimes.
(Bloomberg) — Nexo co-founder Antoni Trenchev disputed charges by Bulgarian police after they raided the crypto lender’s Sofia office last month as part of an investigation into suspected money laundering and tax crimes.
The nation’s prosecutors charged four people as part of the investigation. The accusations include forming an organized crime group related to money laundering, unlicensed banking activities, as well as tax and computer crimes.
“The charges are ludicrous, there is no other word for it,” Trenchev, a former Bulgarian lawmaker, said in an interview that aired Tuesday on Bloomberg TV. “They give loud press conferences, they make a bunch of accusations and they have no follow-through after that.”
Trenchev said he presumed himself to be one of those charged by Bulgarian officials, but he said he hasn’t been contacted or served charges formally or informally.
More than 300 police officers, prosecutors and national security agents took part in the operation last month, searching 15 addresses related to the London-based firm. The company decided to phase out its US products and services in December after cease-and-desist orders from multiple states over its interest-earning products.
Nexo is among the crypto lenders that have been investigated for potential financial crimes after a plunge in digital assets cost customers billions of dollars.
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