Deltec being probed for alleged money laundering involvement.

Global Banking News-November 7, 2018--Deltec being probed for alleged money laundering involvement

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Global Banking News - 07 November 2018

Brazilian authorities have called for help from Bahamian authorities to investigate alleged suspicious transactions by Deltec Bank & Trust.

The firm is the new banking partner of stablecoin Tether (USDT). The firm has been subject to a probe by the Federal Public Prosecutor's Office in Sao Paulo, which is on the trail of Paulo Vieira de Souza, a former director of the Sao Paulo road infrastructure company, DERSA.

De Souza is alleged to have masterminded financial transactions that led to laundered...

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