The owner of Pegasus aggravates his crisis with creditors ‘spying’ on his accounts

NSOGroup, Israeli tech company known for world’s most powerful spyware pegasus, is having more and more financial difficulties. Some problems that have become more latent after the US government to blacklist it in 2021. The ban was imposed after his spyware will be used to spy on activists, members of and journalists.

as published Financial Timesfaced with an imminent serious economic crisis, the CEO of NSO Group, Shalev Hulio, suggested to a team of majority owners of the company that they might start selling the program to risky customers again. The firm would have sapplied for a loan with Berkeley Research Group or BRG for 10 million dollarswhich temporarily solved the problem with the company’s salaries.

Now, the head of the Israeli company is looking for a long term solution, what would happen to sell their software to countries that they know will abuse the software. Hulio discussed his plans to bring Pegasus to companies that are reportedly very high risk. With the name of “phoenix plan”the CEO NSO Group qHe wants to split the company in two so that Pegasus’ software code and engineers are in one company. If this roadmap is carried out, the company’s most dangerous customers would not be affected by the ban imposed by the United States government, and the company could obtain liquidity quickly to bear salary costs and meet their loans and other debts.

Problems with the Spanish government and other administrations

Pegasus, the NSO Group spyware, has quietly crept into the terminals of dozens of politicians and activists in Spain. Some were surprised after the sentence of the process in October 2019 and the wave of riots that broke out in Catalonia after that sentence by the Supreme Court to the nine architects of the independence challenge. Others received their visit in the run-up to the negotiations to form a government. AND He even entered the offices of La Moncloain the middle of the migratory crisis with Morocco in 2020. The list of known victims has come to include the president’s cell phone, Pedro Sanchez, and that of its defense minister, Margaret Oakswhich were monitored in 2021.

This is the situation in the Spanish territory of the range of attacks (attempted assaults) and infiltrations (hacks) of a virus that, according to the NSO Group, they can only acquire government agencies such as police, armies and intelligence services to prevent organized crime and terrorism. In 2021, the US government banned Pegasus after it was accused of enabling hostile espionage by authoritarian governments. According to TechCrunch, Including the Israeli company on this list is an attempt by the Biden-Harris administration to make human rights one of the priorities of US foreign policy.

In addition to the ban Manzana he also sued the company because the iPhones were infected with his spyware. The tech giant has always sought to hold NSO Group accountable for the contamination of some of its products. The presentation of the apple banner aims to activate a court order to prevent any software from the Israeli firm from being installed on their devices in the future.

Credit Suisse pressures

However, despite all these problems, there some allies who might be rooting for the Israeli company. Credit Suisse pushed for NSO Group to continue selling its Pegasus spyware to new customers just weeks after it was blacklisted by the US administration, the FT reported. The request was made in a letter in December by lawyers representing the Swiss bank and some of the company’s creditors, including the hedge fund, Senatoras well as the American investment bank Jefferies in his capacity as supervisor to authorize a loan to NSO Group.

This, according to the British newspaper, would have occurred after the revelations about how Pegasus had been used to hack the phones of journalists, which ended splunging NSO Group into a financial crisis. However, at the time that the Swiss entity and other creditors took this path, the company had gone months without acquiring new clients. “Lenders understand and support the need for caution given the global attention and increased scrutiny focused on the company,” they said in a December 10, 2021 letter to Berkeley. The creditors added that they were “concerned” by a claim by NSO that BRG prevented it from “seeking and obtaining new clients”.

This would have “deepened the company’s current liquidity crisis”, as the information from the English medium adds. In these, NSO should “be able to carry out its normal operations, with proper supervision, during this critical period.” The letter came from Willie Farr & Gallagherwhich indicated that it represents the lenders that represent more than 75% of the NSO Group’s outstanding loans, according to an agreement signed in 2019. Meanwhile, BRG responded to the lenders, saying that it was “deeply worrying” that they were pushing for Pegasus sales.

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