Brazilian Police Raid Lula Ally in Banco Master Probe

MT Newswires Live06-19

Brazilian police on Thursday carried out raids linked to an investigation into failed lender Banco Master, including searches of properties tied to Senator Jaques Wagner, a close ally of President Luiz Inacio Lula da Silva, AFP reported.

A Supreme Court order cited by AFP said Wagner is suspected of receiving more than $1 million in benefits, including money, an apartment and use of private aircraft, in exchange for lobbying on behalf of the bank.

Wagner denied wrongdoing, telling Band News he had never received money from Banco Master.

Police said the investigation is examining efforts to secure Senate approval of a constitutional amendment that would have increased deposit insurance coverage, though the measure ultimately failed, the report said.

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