Ex-president Luiz Inacio Lula da Silva, Brazil's polarizing election frontrunner and leftist icon, was negotiating his surrender after dramatically skipping a first deadline Friday to start his 12-year prison sentence for corruption.
Brazil's top court could rule as soon as this Wednesday whether former President Lula da Silva can stay out of prison while appealing a corruption conviction, a decision that could radically alter October's presidential election in Latin America's largest nation.
Brazilian assets soared, with the Bovespa surging above 83,000 for the first time ever, and the currency Real surging through 3.20 after three judges in a local appeals court upheld a conviction for corruption imposed last July on ex-President Lula da Silva.
Brazilian politicians, voters and investors will find out this Wednesday whether an appeals court will allow the country’s popular leader, Lula da Silva, to run for president this year after being found guilty of accepting a bribe.
Half of Brazilians want former President Lula da Silva to win next year's election and return to the office he occupied between 2003 and 2010. The other half wants him in prison for a corruption conviction.
The judge overseeing a sprawling corruption probe into billions of dollars in kickbacks to Brazilian politicians and officials said Monday that the investigation is nearing an end. Judge Sergio Moro didn't set a timeline for when the Car Wash probe might wrap up. However, he said he is personally a bit tired of the work and believes it is in its final phases.
Former Minister, Antonio Palocci, has sent a letter to the president of the Brazilian Workers' Party (PT), senator Gleisi Hoffmann (PR), requesting to step down from the party founded in the eighties by ex president Lula da Silva.
Former President Lula da Silva told a Brazilian court on Wednesday that the corruption charges against him stem from a witch hunt and questioned the impartiality of the judge. Lula's deposition in Curitiba was the second time he faced off with Judge Sergio Moro, who oversees Brazil's sprawling investigation into bribes to politicians in return for favors to companies.
Brazilian federal judge Sergio Moro, the man behind Brazil's largest ever corruption investigation, said there is still lack of interest from the country's political establishment to fight corruption, despite the political and economic crisis the practice sent the country into.
The Brazilian central bank has frozen four bank accounts belonging to ex-President Lula da Silva due to his recent conviction on corruption charges, the federal judge who heard his case said on Wednesday.