Bet Firm Tied to 3 Flávio Bolsonaro Flights
BRAZIL · ELECTIONS
Key Facts
- —What is happening On Friday, 16 October, newspapers described a police file on a lawyer probed in an INSS pension fraud case that allegedly shows a Portuguese firm tied to betting company Rede Loto bought at least three private jet flights used by Senator Flávio Bolsonaro in 2025.
- —Why it matters Flávio is the conservative Liberal Party candidate facing President Lula in the runoff on Sunday, 25 October, so any link to a pension fraud inquiry lands nine days before Brazil votes.
- —The numbers At least three flight legs in 2025, including 11 April from Lisbon to Nice and 23 May from Cascais to Nice; no ticket price is public, and a state lottery contractor tied to the lawyer billed 188 million reais (about US$37.3 million).
- —Who is who Willer Tomaz is a Brasília lawyer and friend of Flávio; Cathedral Holdings is a Madeira-registered company whose shareholders include Tomaz, his wife, his sister and a business partner; Rede Loto runs the BestBet brand under a Rio de Janeiro state lottery licence.
- —What to watch Whether the Federal Police or a court names Flávio as a suspect, what Cathedral’s payment records show, and how voters react before the runoff on Sunday, 25 October; no charge against him exists today.
- —Prediction markets Polymarket gives Flávio Bolsonaro a 76.7% chance of winning the 25 October runoff and Lula 22.5% (16 October, 12:50 p.m. ET). Polymarket puts Flávio Bolsonaro’s chance of winning at 77% and Kalshi at 78% (Lula: 23% and 24%), as of 16 October, 2:00 pm ET; prices are bets, not polls.
- —Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 75.0 points (October 2026 edition).
- —What it means for you US investors and readers should treat this as an allegation from a police file, not a finding, and watch how Brazilian assets, the real and betting prices react in the final nine days.
Runoff · Sunday, 25 October
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Brazilian newspapers say a Federal Police file links a betting firm to private jet flights used by Flávio Bolsonaro in 2025. He calls the link speculation, and no outlet reports a charge against him.
A police file allegedly shows a Portuguese firm tied to a betting company paid for jet flights used by Senator Flávio Bolsonaro. The Flávio Bolsonaro flights surfaced on 15 and 16 October, nine days before the runoff in the Brazil election 2026 race.
Flávio, the conservative Liberal Party candidate, calls the link speculation, and the lawyer behind the firm says he paid himself. Readers can follow the latest Brazil election odds for betting prices, which put Flávio near 77% on Friday.
Flávio Bolsonaro Flights in the Police File
Folha de S.Paulo first revealed the flights on Friday, 16 October, Diário de Pernambuco says, and Estado de Minas followed. Diário de Pernambuco says boarding passes were found on the computer of lawyer Willer Tomaz.
The passes list at least three flight legs bought by Cathedral Holdings, a company registered on Madeira island in Portugal. The first ran from Lisbon to Nice on 11 April 2025 on a NetJets aircraft.
A second trip left Cascais for Nice on 23 May 2025, with relatives aboard, and went on to Paris. None of the outlets gives the cost of any flight.
Who Willer Tomaz Is and Why Police Looked
Tomaz is a Brasília lawyer and, O Brasilianista says, a friend of Flávio since at least 2021. Police searched his home on Tuesday, 4 August, in a new phase of Operation Sem Desconto.
The operation examines unauthorised deductions from INSS pensions, the state social security system that pays retirement benefits. Estado de Minas says Tomaz is investigated on suspicion of passing along money obtained through that fraud.
Tomaz’s lawyers said the August search concerned an aircraft used by Senator Weverton Rocha and that Tomaz was not a target. Flávio was not part of that operation, Diário de Pernambuco says, and no outlet reports a charge.
The Betting Company and Its State Licence
Rede Loto, which runs the BestBet brand, won a licence on 25 May 2023 from Loterj, Rio de Janeiro’s state lottery regulator. Estado de Minas describes it as the first betting company authorised to operate in Brazil.
Diário de Pernambuco and O Brasilianista say Cathedral is Rede Loto’s sole shareholder. Loterj told the press that Rede Loto met every requirement and that no member presented an impediment.
Another company with Tomaz as ultimate beneficiary billed Loterj 188 million reais (about US$37.3 million) between June 2023 and August 2026. Loterj did not require disclosure of ultimate owners then, Estado de Minas says.
What Flávio Bolsonaro and Tomaz Say
Flávio told Folha that he is friends with Tomaz and that tying the friendship to irregularities is mere speculation without factual basis. His office denies that he kept an account with Tomaz or his companies.
Tomaz’s lawyers say the trips were leisure outings among friends and families, paid by Tomaz with nothing offered in return. A Rede Loto lawyer says the company did not pay and that no member is investigated for illegal gambling.
The boarding passes, however, name Cathedral Holdings as the buyer, Diário de Pernambuco and O Brasilianista say. Who actually paid, Tomaz or the company, is therefore disputed in the coverage.
O Brasilianista says the police report lists an account in Flávio’s name as a “master user” for Alcazar Holdings at Santander. His defence blames a registration error, and that claim was covered in Flávio Bolsonaro Denies Bank Link 14 Days Before Runoff.
What It Means for US Readers
Brazil’s runoff decides who runs a top US trade partner and a major emerging market for investors holding Brazilian stocks and ADRs. Any shock to the front-runner can shift the real, local equities and betting prices.
So far the story contains no charge, indictment or court finding. Readers should treat the flights as an allegation from a police file reported by newspapers.
What Prediction Markets Say
Polymarket’s winner market gives Flávio Bolsonaro 76.7% and Lula 22.5% (12:50 p.m. ET on 16 October). The Brazil presidential election event has drawn about US$184.6 million in bets, and the prices are bets, not polls.
Kalshi’s market showed Flávio at 78.0% and Lula at 24.0% at 10:37 a.m. ET on 16 October. The article records no price move caused by the story, and both platforms put Flávio near 77% to 78%.
Prediction markets · who wins the runoff
Implied chance of winning Brazil’s presidency on 25 October, from traders’ prices.
Polymarket
Flávio Bolsonaro 76.6% · Lula 22.5% (US$185 million traded)
Kalshi (regulated in the US by the CFTC)
Flávio Bolsonaro 78% · Lula 24%
As of 16 October, 2:00 pm ET (19:00 Lisbon), updated every 20 minutes. Prices are bets, not polls, and can move fast.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
What Is Not Known
The police documents have not been published, and neither the Federal Police nor the Supreme Federal Court has commented on the flights. The account relies on Folha de S.Paulo, relayed by Estado de Minas, Diário de Pernambuco and O Brasilianista.
Who paid, what the trips cost and whether Flávio held any stake in Cathedral, Alcazar or Rede Loto are unconfirmed. Whether Flávio influenced the Loterj licence is also unconfirmed, and Cançado has not answered.
What Comes Next
The Federal Police inquiry into Tomaz continues, and no date for any decision has been published. Brazil votes on Sunday, 25 October, and conversions here use 5.04 reais per US$1 (15 October, open.er-api.com).
Frequently Asked Questions
What do the reports say about Flávio Bolsonaro’s flights?
They say a Portuguese firm tied to a betting company bought at least three private jet legs used by Flávio in 2025. Flávio calls the link speculation, and Tomaz’s lawyers say Tomaz paid personally.
Is Flávio Bolsonaro charged with a crime?
No outlet reports a charge against him, and nothing shows he is a formal suspect. The investigation concerns Tomaz and an alleged pension fraud scheme.
Who is Willer Tomaz?
He is a Brasília lawyer and friend of Flávio who is investigated in a phase of Operation Sem Desconto. Police searched his home on Tuesday, 4 August.
What is Rede Loto?
Rede Loto is a betting company that runs the BestBet brand under a licence from Rio de Janeiro’s state lottery regulator, Loterj. Its lawyer says no member is investigated for illegal gambling.
Does this change the 25 October runoff?
The runoff still takes place on Sunday, 25 October, between Flávio Bolsonaro and Lula. Polymarket gave Flávio about 77% on 16 October and Lula about 22.5%, and those are bets, not polls.
Sources: Estado de Minas, 16 October 2026; Diário de Pernambuco, 16 October 2026; O Brasilianista, 16 October 2026; The Rio Times, 11 October 2026; Polymarket price data, 16 October 2026, 12:50 p.m. ET (all accessed 16 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief