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News Explorer — $1B Deposit by Tether Forms Part of UK High Court Battle

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Nov 21, 10:54 am

www.ft.com

$1B Deposit by Tether Forms Part of UK High Court Battle

UK High Court filings have shown that stablecoin issuer Tether deposited $1 billion at an investment group founded by Julio Herrera Velutini, a Tory donor who last year was indicted on allegations of bribery by U.S. authorities. Velutini, who earlier this year transferred ownership of Britannia Financial Group to his son Julio Cesar Herrera, has denied the bribery accusations, calling them “baseless.”

UK High Court filings have shown that stablecoin issuer Tether deposited $1 billion at an investment group founded by Julio Herrera Velutini, a Tory donor who last year was indicted on allegations of bribery by U.S. authorities. Velutini, who earlier this year transferred ownership of Britannia Financial Group to his son Julio Cesar Herrera, has denied the bribery accusations, calling them “baseless.”

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