Brazil Arrests Worlds Richest Banker

What in the world is going on?

Posted on April 2, 2016 by Sean Adl-Tabatabai in News, World

Brazil arrests the world's richest banker

The government in Brazil have arrested and charged one of the world’s richest bankers, Joseph Safra, for bribing officials in order to avoid paying tax.

Brazilian prosecutors say that Safra had knowledge of a 2014 plan by executives at his Banco Safra SA to bribe federal tax auditors with $4.2 million dollars. reports:

The accusation is based on tapped phone calls between Banco Safra executive João Inácio Puga and tax officials, the statement added.

Safra, who alongside his family owns Banco Safra SA and a number of private-banking institutions including Switzerland’s J Safra Sarasin, was not directly involved in the negotiations on the bribery plan, the statement noted. Still, the conversations showed that Puga reported to Safra on the bribery talks, prosecutors said.

In a separate statement, Safra’s investment holding company Safra Group said the allegations “are…

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