An exclusive three-month investigation conducted by the YouTuber Trolligarch, a prominent figure in DemocracyCraft known for attracting a massive influx of players starting in January 2025, has released an investigative exposé video highlighting several issues within the financial sector, particularly concerning the Vanguard National Bank.
Trolligarch’s findings indicate that during the three-month period from November 2024 to January 2025, Vanguard (assuming 90% of its total pre-tax profit was generated in DemocracyCraft) avoided approximately D$802,421 in taxes, as suggested by Trolligarch.
Considering VNB’s total pre-tax income over these three months (D$5,015,134) and assuming that 90% of this was earned in DemocracyCraft (D$4,513,620.6), an institutional tax rate of 20% would imply that D$902,724 should have been paid to the treasury. However, it seems that only D$226,042 was paid by all financial institutions over the three months, resulting in a significant discrepancy of D$676,682 missing from the treasury.
If we calculate the figures, D$902,724 is the total tax liability VNB was supposed to pay, and when we subtract this from the total of D$100,303 in taxes paid by VNB over those three months, we arrive at D$802,421 in unpaid taxes.
Nexalin, the CEO of VNB, was unresponsive to Trolligarch’ s request for comments until the last moment, specifically on April 1 st, 2025. He responded to a sixth and final request for comment by denying any tax evasion, stating in Trolligarch’ s video: “We did not make that much profit between November and December, as the income statement includes unrealized gains on VMA and The Exchange. Vanguard & Co has not fabricated income statements and we do not need to court new investors. This is almost laughable as Vanguard & Co is fully compliant with all regulations.” Nexalin also disputed the tax probes launched by CityRP and DemocracyCraft regulators, and stated he had “no comment on the allegations from [BusinessCraft].”
After the video was posted, Nexalin described the exposé as his “first hit job.”
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