Federal Police Ask Top Court to Lift Bolsonaro’s Bank Secrecy

Yesterday, the Brazilian Federal Police requested the Supreme Federal Court (STF) to probe into the financial activities of former President Jair Bolsonaro.

This action comes on the heels of an investigation launched into the alleged diversion and overseas sale of items gifted to the Presidential Office during official missions.

Bolsonaro’s potential breach of financial confidentiality. Some items under scrutiny include valuable

This probe stems from suspicions surrounding gifts, such as jewelry from Saudi Arabia, presented to Bolsonaro during his official visits.

The investigation also touches on General Mauro Lourena Cid, father of Bolsonaro’s former aide Mauro Cid, Bolsonaro’s lawyer, Frederick Wassef, and advisor Osmar Crivelatti.

The Federal Police have stated that funds from the sale of these items were allegedly channeled directly to Bolsonaro in cash.

One indication of Bolsonaro’s involvement is that the jewelry was transported overseas on Brazilian Air Force (FAB) planes during presidential trips.

Evidence suggests that the proceeds from these sales were converted to cash and were integrated into Bolsonaro’s personal assets, circumventing the formal banking system, presumably to conceal the funds’ origin and ownership.

One specific instance was a 2022 trip to the U.S., where Cid reportedly separated from the presidential delegation to sell two luxury watches for US$68,000.

These funds were then deposited into an overseas account belonging to General Cid.

In another December 2022 trip, more jewelry was taken abroad shortly after Bolsonaro’s electoral defeat, presumably for sale in the U.S.

In intercepted communications reviewed by the Federal Police and submitted to the STF, conversations about overseas asset sales restrictions were noted between Cid and another Bolsonaro aide, Marcelo Câmara.

Official regulations necessitated the formal registration of any gifted properties to the Brazilian Government and any overseas sale needed official notification.