BLS International Stock Plummets Amid Visa Fraud Probe
The stock price of BLS International Services plummeted by up to 9% on Monday due to reports that the company is being investigated for alleged visa fraud in Spain's National Court.
The selloff began after news broke that the court was expanding its investigation into an alleged visa scam at the Spanish Consulate in Algiers, where BLS handles visa appointment scheduling and document processing.
Prosecutors are looking into claims that a network of individuals helped applicants obtain Schengen visas, residence permits, and self-employment work permits despite failing to meet requirements.
According to sources, the alleged scam was uncovered after communications from the Spanish Embassy in Algeria alerted authorities. Applicants allegedly paid substantial sums for applications to be processed with altered or incomplete documents.