Brazil targets pension funds in party financing probe
Brazilian federal police launched Monday an operation to investigate the alleged funneling of 8bn reais (US$2.4bn) to political parties from pension funds belonging to state-owned banks and companies.
The pension funds under the so-called Greenfield investigation are funds managing the pension savings of employees at some of the country's largest public sector banks and companies, including Petros (Petrobras), Previ (Banco do Brasil), Funcef ( Caixa Economic Federal) and Postalis (Correios, Brazil's post office), local paper Valor Económico reported.
The investigation is also targeting several contractors, including WTorre, OAS, Engevix, Deloitte Touche Tohmatsu, and Eldorado Celulose, subsidiary of J&F Group, according to Valor Económico.
Works at São Paulo airport Guarulhos are part of the probe, the daily reported.
The federal justice department ordered the freezing of 8bn reais in assets from 103 individuals and entities involved in the investigation, according to the report.
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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