A widening corruption scandal in Brazil has now spread to the world's richest banker.

Joseph Safra, the owner of the Safra group that holds a Swiss private bank, is the latest top-level Brazilian businessman to be drawn into a corruption scandal. Another corruption saga in the country has already hit the founder of BTG Pactual, the banking group.

Safra, whose group owns Bank J Safra Sarasin, has been, along with others, charged with corruption. He is alleged to have been aware of plans by his senior employees to bribe tax officials R$15.3 million ($14.22 million) in return for cutting taxes owed to the state of Brazil, now worth R$1.8 billion, media reports said. Safra owns prominent properties such as the Gherkin tower in London, and is reputed to be worth around $18.3 billion (source: Fortune).

“The criminal intentions of the group is made clear by the various conversations and exchanges of messages cited in the indictment,” the Financial Times has reported, quoting prosecutors. It is said the charges were based on recorded telephone conversations between João Inácio Puga, a top executive at Safra-owned Banco Safra, and tax officials.

The Brazilian authorities have stated that Mr Safra was not directly involved in the alleged corruption scheme, but prosecutors said Puga reported to him on the issue.

The Safra Group has denied involvement in corruption.

The country has also been hit by a corruption case surrounding state-run oil company Petrobras and its links with engineering companies. Last year, Andres Esteves, founder and former chief executive of BTG Pactual, the bank, was arrested and resigned from the firm. BTG Pactual bought the Swiss private bank BSI last year, but the scandal meant the bank, in need of capital, was forced to sell it within weeks of the acquisition being completed. BSI has been bought by EFG International, another Swiss bank.