Mar 17 • 02:00 UTC 🇧🇷 Brazil Folha (PT)

Master Bank lent at least R$ 22 million to Hugo Motta's sister-in-law

The sister-in-law of the President of the Chamber of Deputies in Brazil secured a loan of R$ 22 million from Master Bank for real estate development.

Bianca Medeiros, the sister-in-law of Hugo Motta, the President of the Chamber of Deputies in Brazil, has taken out a loan of at least R$ 22 million from Master Bank to purchase land for a new residential neighborhood in João Pessoa, Paraíba. This transaction took place in March 2024 and involved her acquiring all the shares of ETC Participações, a company with a social capital of R$ 100,000, before using it as collateral for the bank loan. A week after acquiring the company, Bianca signed the loan agreement with Master Bank, pledging the shares of ETC as security. The public records show that the last update from the company, registered in December 2024, indicated an obligation to repay the bank loan. This development raises questions about potential conflicts of interest given her relationship with the prominent political figure, highlighting the intersection of politics and business in Brazil. The loan was reportedly used to purchase a massive 400-hectare plot from an abandoned cement factory for redevelopment purposes. Bianca's messaging confirmed the planned transformation of this site into a new neighborhood, which would likely have significant implications for local real estate and urban development in João Pessoa.

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