Other senior politicians – including former president and current Senator Fernando Collor de Mello and lower house speaker Eduardo Cunha – face Petrobras-related corruption charges, but unlike Amaral they remain free pending investigation.
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He is worth about $2.2 billion, according to Forbes Magazine.
Esteves’s defense team intends to file the papers Sunday, Antonio Carlos de Almeida Castro said in a phone interview.
“He is being held at the police station”. Still, earlier in the day, Fitch Ratings put BTG Pactual’s rating on review for a downgrade because of the uncertainty ensuing from Esteves’ arrest.
The Molls and BTG Pactual became partners at the end of 2010.
Allegedly, Amaral and Esteves would help Cervero escape from Brazil and hide in either Europe or Venezuela in exchange for not disclosing information to authorities.
Esteves has been involved in various deals with Petrobras over the years, most notably Sete Brasil.
The government’s leader in the Senate, Delcidio Amaral, was also arrested, the police press official said, declining to provide details on the specific allegations against Esteves or Amaral.
In a statement, Moody’s said it fears the implication of Mr. Esteves in the scandal will dent BTG’s relationship with its customers and counterparties. Turns our the “black box” concerns were quite warranted.
Brazil’s currency fell as much as 2 percent as the scandal threatened both the country’s sixth-largest bank and the president’s sputtering efforts to pass a new budget and avoid another credit ratings downgrade to junk.
Yet another way BTG never quite made it to “better than Goldman” status.
BTG Pactual and Petroleo Brasileiro were partners in a troubled oil rig supplier, Bloomberg reported. Brazil’s economy is forecast to shrink more than 3 percent this year, according to a central bank survey of economists.
Persio Arida, who was named acting CEO after Esteves’s arrest on November 25, will be named chairman, said the source, who requested anonymity because the matter is private. Prosecutors have further alleged that Amaral offered to pay Cervero a monthly stipend financed by Esteves.
He said was “perplexed by the facts” that led to the arrest.
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Well, yes, when rich and powerful people are arrested for embezzling billions, it is usually a “big mistake” as it means that someone’s palms were not greased enough.
