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In January, officials conducted a search at Nexo's Bulgarian office on suspicions of financial misconduct and tax irregularities, which Trenchev previously dismissed as baseless.
Recently, the Prosecutor’s Office in Bulgaria concluded its investigation into crypto lender Nexo, stating the absence of proof regarding money laundering, tax offenses, computer fraud, or any illegal activities.
The decision stemmed from the classification of crypto assets outside the country’s financial regulations for payment services and systems, as per an official statement.
Allegations against Antoni Trenchev, Kosta Kanchev, Kalin Metodiev, and Trayan Nikolov involved accusations of involvement in an organized criminal group between 2018 and January 2023.
Nexo’s co-founder and managing partner, Antoni Trenchev, commented to The Block on the dismissal of charges by the Bulgarian Prosecutor’s Office, emphasizing the political nature of the previous attack on Nexo and its executives.
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He expressed relief at the exoneration, considering it a validation for law-abiding entities in the crypto sphere. Trenchev concluded, saying, “This outcome brings us a sense of closure and vindication.”