The Federal Police of Brazil reports on the fraudulent management involving resource allocation from Amapá Previdência to the Master bank without appropriate documentation and oversight.
The Brazilian Federal Police (PF) has exposed allegations of fraudulent management regarding the allocation of funds from Amapá Previdência (Amprev) to the Master bank. According to the PF, the decisions made within a mere twenty days disregarded internal alerts and ignored investment-related risks. A total of R$ 400 million was allocated to the bank, with the decisions indicating a concerning lack of oversight and due diligence in the investment process.
Jocildo Silva Lemos, the then director-president of Amprev and coordinator of the investment committee, played a central role in the meetings that led to these significant financial decisions in July 2024. Notably, Jocildo has historical ties with prominent political figure Davi Alcolumbre, the President of the Senate, as he served as the treasurer for Alcolumbre's campaign and was appointed to his position at Amprev by the senator. This connection raises questions about potential political influence in the financial decisions being investigated.
The report also highlights specific instances where the investment committee made crucial decisions, such as approving the purchase of financial instruments worth R$ 100 million, again demonstrating a failure to require necessary documentation and oversight. The implications of these findings are severe, pointing to possible corruption and mismanagement within a state-linked financial body, and they may trigger further investigations into the financial practices and political affiliations tied to Amprev.
