Tether New Banking Partner Deltec is Under Investigation for Receiving Suspicious Transactions
Tether and Deltec Bank & Trust has been together in the media frequently lately for the rumors of a new banking relationship. Only last week, Tether posted on Twitter to confirm the partnership, despite refraining from any type of comment for the weeks preceding it. They offered a confirmation letter from the bank, which has been criticizing by many, considering the lack of audit.
Now, Deltec Bank & Trust is the one being examined. A new report from O Globo, a Brazilian newspaper, says that the Federal Public Prosecutor's Office in São Paulo is fixated on the former director of DERSA – Paulo Vieira de Souza. Apparently, he is being prosecuted for bribery in a locally famous case that is being deemed the “largest foreign bribery case in history,” which is worth 25 million Swiss Francs.
Deltec seems to be tied to the case because they were ultimately the final destination for the funds, after they were transferred to an offshore company called Nantes Group. The alleged transfer to Deltec occurred in February last year, which the Brazilian prosecutors are presently trying to verify. However, this accusation was not taken lightly by the Twitterverse, once they saw the headline that CoinTelegraph posted with it – “Brazil: Tether's New Banking Partner Deltec Suspected of Accepting Laundered Funds.”
One user, “g3nology,” pointed out that there was no implication of Deltec’s wrongdoing within the article at all. They even accused the writer, Ana Berman, of “using sensational headlines and reading things into the story that aren’t there.” Unfortunately, many commenters did not agree with this user, and many were not even surprised that Deltec could be involved.
Another user reposted the tweet, casting doubt of Deltec’s innocence instead. CryptoMedication, who uses the Twitter handle @ProofofResearch,
“Surely a bank that's under investigation for laundering over $25M wouldn't go so far as to lie on a sheet of paper about the amount of available funds that one of its customers has, right?”
Though that post has not gained traction yet, it will be interesting to see which side crypto enthusiasts are on when a simple question is answered – has Deltec been involved in any wrongdoing? Most likely, there will not be a definitive answer until the investigation has at least verified the receipt of funds by Deltec.