Brazil Shuts Down $16B Bank in Fraud Scandal
Update: 2025-11-18
Description
Brazils government shuts down Banco Master amidst a major fraud investigation, seizing assets worth up to sixteen billion dollars. The bank, facing liquidity issues, is now under government control. The federal police uncover a two-billion-dollar fraud, leading to six arrests and the freezing of billions in assets. The investigation focuses on banks issuing bonds with high interest rates and purchasing them despite liquidity risks. Clients and creditors will seek recovery through a private entity supported by other banks.
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