Bahamas-based Deltec Bank, the partner of Tether Limited, is rumoured to be involved in the probing of suspicious transactions.
According to the media reports, the Brazilian police asked Bahamas authorities to provide assistance in the review of the suspicious money transfers to Deltec Bank & Trust. Sao Paulo's prosecutor's office heads the investigation into the case of Paulo Vieira de Souza. The reports read that De Souze is ex-CEO of the construction company DERSA and is credited with bribery from Odebrecht corporation. This case is said to be considered as the major foreign bribery case.
The police stated that DERSA ex-CEO transferred about $25 million to offshore company Nantes Group (Panama) run by Bordier & Cie (Switzerland), with de Souze said to be the main beneficiary.
Still, the Brazilian law enforcement bodies turned to Bahamas authorities, as they believe that the Panama company is just one of the points in the money laundering scheme. It is reported that the above-mentioned sum moved to Deltec Bank & Trust in early 2017.
Notably, these countries already cooperated in terms of money laundering cases earlier.
As it was reported earlier, Deltec Bank confirmed the authenticity of the letter that was unveiled by Tether Limited, which indicated the company solvency and proved the partnership between the companies.