Mar 15 • 05:00 UTC 🇧🇷 Brazil G1 (PT)

BRB charges R$ 978.3 thousand in payroll loans from former president investigated in the Master case

The Bank of Brasília is pursuing R$ 978,352.60 in payroll loans from its former president Paulo Henrique Costa, who is under investigation for irregularities.

The Banco de Brasília (BRB) is taking legal action to recover R$ 978,352.60 that was borrowed by its former president, Paulo Henrique Costa, under payroll loan agreements. Costa is under investigation by the Supreme Federal Court (STF) due to suspicions of irregularities in transactions between the BRB and Banco Master. The loans were taken between November 2020 and January 2024 while Costa was at the helm of the bank.

According to the bank, Costa ceased making payments after leaving the presidency in November. The contracts associated with these loans stipulated that the entire amount could be demanded due to missed payments. Originally, the R$ 978.3 thousand was to be cleared in installments stretching over several years, with payments scheduled until 2035. However, this situation changed following Costa's departure from his position.

The legal proceedings were initiated on Wednesday, November 11, in the 16th Civil Court of Brasília, where the justice system has ordered that Costa be formally informed of the lawsuit and the necessity to repay the outstanding debt. G1 is attempting to make contact with the involved parties for further commentary on the case, which highlights potential financial misconduct within the bank's upper management during Costa's tenure.

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