Deltec Bank Refutes Involvement In Venezuelan Money Laundering Scheme
Deltec Bank & Trust has released an official announcement stating their dis-involvement in the Venezuelan money laundering case.
Deltec Bank & Trust has been the recipient of a lot of bad publicity in the last few weeks, between their alleged association with a recent money-laundering scheme involving Venezuela.
However, Deltec has maintained their lack of involvement, following a report that the US federal authorities intended to seize the assets within bank accounts for both Deltec and Ansbacher, a bank in the Bahamas.
Pledging that it complies with all anti-financial crime laws “without compromise”, Deltec refuted the contents of a plea agreement reached between US prosecutors and Abraham Edgardo Ortega, who was formerly executive director of financial planning at Venezuela’s state-owned oil company, PDVSA.
Edgardo Ortega pleads that he would forfeit “all assets on deposit in account/portfolio number 1303311-00 at Deltec Bank & Trust in Nassau, The Bahamas.” He also said that he would give up “all assets on deposit in account number 200020600 at Ansbacher Ltd in The Bahamas, held in the name of Greatwalls FS.”
However, ”Deltec wishes to make it abundantly clear that neither Mr. Ortega nor any of the other indicted individuals is or was a client of the bank.”
Furthermore, Deltec stated that they conduct all relationships with clients in a manner that is “fully compliant with all applicable banking laws and regulations, and consistent with its internal policies with respect to sound risk management.”
The bank where Tether saves its USD resources also claimed to work with regulators continuously and to have solid internal anti-money laundering (AML) and know your customer (KYC) procedures, which are “applied without compromise, to preserve the financial and reputational integrity of the bank and jurisdiction.”
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