The Federal Supreme Court of Brazil (TSF) has ratified this Friday the preventive detention of the former president of the Bank of Brasilia (BRB), Paulo Henrique Costa, accused of fraud for allegedly accepting 24 million euros in real estate after the BRB's absorption of Banco Master.
The second chamber of the TSF has confirmed by four votes to zero that Costa will remain in prison as long as the investigation continues. The Court, chaired by André Mendonça, has completed the fourth phase of 'Operation Zero Compliance', through which the judge has been able to observe "strong indications" that Costa acted as the "true representative" of Vorcaro, the former owner of Banco Master, according to the Brazilian newspaper 'O Globo'.
The former president of the BRB was arrested on April 16 for allegedly acting in favor of the purchase of Master in exchange for interest. According to the Federal Police, the consideration would have been "the payment of bribes."
According to Mendonça, in statements collected by the same media, Costa's preventive detention was intended to guarantee economic order, the correct conduct of the criminal investigation and the future application of criminal law, citing evidence of the continuity of criminal activity.
«Detention prevents the destruction or alteration of evidence; coordinating testimonies with other members of the criminal organization; the concealment of assets and commercial documents; as well as the operation of shell companies," the judge argued after the arrest.
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