Banco Delta Asia (BDA), a Macao-based bank, on Tuesday reiterated that charges from the United States government of its involvement in money laundering cases are "groundless."

Stanley Au, chairman of the Delta Asia Financial Group (BDA's parent company), told a press conference that the repeat of the allegation by certain US officials Tuesday was "a lie."

Stuart Levey, US Treasury Under Secretary for Terrorism and Financial Intelligence (TFI), was the first to make the accusation that the BDA has aided the Democratic People's Republic of Korea ( DPRK) in a series of money-laundering cases.

Au restressed that the BDA has not been involved in any illegal business relations with DPRK banks or trading agencies.

He also noted that the BDA has recovered its normal business.

The BDA, established in Macao in 1935, currently operates eight branches and four offices in the Macao Special Administrative Region, and the Delta Asia Financial Group, BDA's parent company, has subsidiaries and offices in Hong Kong, Tokyo and Zhuhai.

Source: Xinhua