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Politicians seek probe into Banco Basa over alleged Lava Jato ties

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Politicians seek probe into Banco Basa over alleged Lava Jato ties

A political alliance in the Paraguayan Senate filed a motion urging Banco Central del Paraguay to investigate Banco Basa SA over its alleged links to the wide-ranging Lava Jato corruption scandal in Brazil, according to local media reports.

Legislators from the Guasú Front, a left-leaning electoral alliance, reportedly solicited the regulator to "urgently order" an inspection of Banco Basa and its branches "to verify the grave facts indicted."

Between 2014 and 2016, Sao Paulo-based Banco Paulista SA brought into Paraguay 6.7 billion reais in cash on chartered planes, O Globo reported, an amount Lava Jato investigators suspect too large to be justified by regular commercial activity in Paraguay.

The majority of the imported cash was moved in connection to Banco Basa, the newspaper reported.

As of May 21, US$ 1 was equivalent to 4.06 Brazilian reais.