Feb 18 • 14:46 UTC 🇧🇷 Brazil Folha (PT)

Augusto Lima, former partner of Vorcaro, spent R$ 600 million of his assets to try to save Pleno

Augusto Lima had to spend around R$ 600 million of his wealth to honor banking obligations until the liquidation of the Pleno bank was announced.

Banker Augusto Lima spent approximately R$ 600 million from his own assets to fulfill claims on Certificados de Depósito Bancário (CDBs) of Pleno, formerly known as Voiter, until the announcement of the bank's liquidation by the Central Bank. The liquidation was confirmed on Wednesday, October 18, and Lima had been attempting to keep the bank operational in search of a new investor, a challenge complicated by his previous associations with financial scandals.

Lima was actively selling personal assets and seeking investors to salvage the bank's operations, which ultimately failed, resulting in the liquidation. The Central Bank stepped in due to the bank’s insolvency, as it lacked the cash flow necessary to meet the obligations tied to the CDBs that were expiring. The financial market had already anticipated the liquidation given the substantial liabilities Lima had assumed when acquiring Voiter.

This situation was exacerbated by Lima’s ties to a larger financial scandal involving the Master group, which made investor confidence difficult to secure. Following the liquidation, Lima's assets are now unavailable, adding another layer of complexity to his financial troubles. The entire scenario highlights the risks associated with banking operations and the impact of past associations in the finance sector.

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