Nexo Raid: Prosecutor Denies Political Motive, Cites Financial Fraud

• Bulgarian police denied any political motives in their recent investigation of Nexo
• Prosecutor General spokesperson Siika Mileva defended the investigation by saying it has become a national sport to attack the institutions
• Mileva argued that almost all investigations that affect someone’s financial interests lead to accusations and attacks

The Bulgarian police recently conducted an investigation into crypto lending firm Nexo, sparking accusations of political motives behind the raid on the company’s office. Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, has denied any political agenda in the investigation.

Mileva argued that in almost all cases in recent years involving a prosecution starting an investigation that affects someone’s financial interests, leads to accusations and attacks. „It has become a national sport to attack the institutions,“ Mileva said. The news about the Nexo investigation comes within a month of its exiting the US market in December 2022.

The spokesperson also defended the investigation saying that prosecutors and investigators searched Nexo’s Bulgaria office in the capital Sofia as part of an investigation into alleged tax evasion and money laundering. There were also suspicions that the investigation was in connection with the company’s political donations, something which Mileva has denied.

The investigation has caused considerable concern among the crypto community, with some suspecting that the Bulgarian government may be trying to target Nexo due to its political donations. However, Mileva has been adamant that the investigation is purely a criminal one and that there is no political motivation behind it.

Mileva has also argued that the investigation is necessary in order to protect the Bulgarian people from financial fraud and money laundering. She further added that the authorities need to take all necessary steps to ensure that people’s money is safe and to prevent any kind of criminal activity related to financial services.

The investigation into Nexo is ongoing and it remains to be seen what the outcome will be. In the meantime, it is important for the crypto community to be aware of the facts and to not jump to conclusions about the motives behind the investigation.

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