18 July 2023
Deltec Bank & Trust Limited Official Statement on Recent Actions by the U.S. District Court for the Eastern District of Virginia
Deltec Bank & Trust Limited (“Deltec Bank”) is aware of recent actions by the U.S. District Court for the Eastern District of Virginia between June 12, 2023, and June 28, 2023, relating to, among other things, Deltec Bank funds held at Mitsubishi UFJ Trust and Banking.
Deltec Bank is just one of many financial institutions that have been affected by this criminal fraud scheme, which was carried out by two individual defendants who are not affiliated with Deltec Bank. Deltec Bank is proactively cooperating with the authorities in this matter. All actions taken by the bank are in line with applicable policies and regulatory requirements. At no time has Deltec Bank misrepresented the purpose of its accounts. Deltec Bank has no reason to believe it is a subject or target in this or any investigation.
As a leading global financial institution based in The Bahamas, from inception and through present day, Deltec Bank has prioritized exclusive financial services support for clients across industries, sound capitalization, and a strict compliance program, including robust Anti-Money Laundering policies and practices. Deltec Bank is committed to continuing its diligence and further fortifying its compliance and control framework as needed for the ultimate benefit of the valued clients it serves.
