Quinta, Julho 19, 2018

Bradesco Bank is investigated for debt over R$ 2.75 billion for Brazil's Internal Revenue Service

By Paulo França

(readers in 122 countries) (*)

International News Agency (AIN) - (**)

published in may 23th, 2017 - 10:32 pm

On April 4th, 2017, Bradesco Bank S.A. (code on the São Paulo Stock Enchange: BBDC4) reported that it received a communication from the General Corregedoria of the Brazilian Ministry of Finance on the opening of an administrative proceeding for the liability of a legal entity.

The financial institution Bradesco - which disrespects its clients by lending financial resources with abusive interest rates, does not increase credit limits, does not pass on microcredit lines to micro and small entrepreneurs, and closes its current account unilaterally due to persecution of the journalist, is investigated in the scope of Operation Zelotes of the Federal Police of Brazil, on suspicion of practicing acts against the public administration, with supposed purchases of favorable tax decisions in the Administrative Council of Financial Resources (CARF) of the Federal Revenue Service of Brazil.

The alleged debt of Bradesco Bank S.A. to the Brazilian Federal Revenue Service is more than R$ 2.75 billion (more of US$ 764 millions) as of April 2015.


In addition to the lawsuit filed at the General Department of the Ministry of Finance against Bradesco Bank S.A., the financial institution is still being prosecuted criminally at the 10th Federal Court of Brasília, the federal capital of Brazil.

The following executives of Bradesco Bank S.A. are investigated by Police and Justice of Brazil: Luiz Carlos Trabuco Cappi, president of the financial institution; Domingos Figueiredo de Abreu, Vice-Chairman; Luiz Carlos Angelotti, managing director of controller; and 6 other bank executives, at risk of being arrested in a preventive manner.

The financial institution currently promotes, in several communication vehicles, a misleading advertising campaign, in which it states that it is intended that all bank clients move forward. This is not true because the financial institution charges - mainly from micro and small businesses and individuals, interest rates and other financial burdens, as well as is not sympathetic to the financial needs of its clients.

(*) Paulo França is an international journalist and writer, having founded the International News Agency in 2002.

(**) The International News Agency announces news, companies and governments in multiplatform and crossmedia format, in convergence with social networks, with more than 3,900,000 accesses.

Copyright by PFC International 2017. The contents of this material may not be reproduced, by any means, without the prior authorization of the controlling company of this communication vehicle.

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