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Brazilian former Senator agrees to reimburse 234 million dollars of looted money

Friday, August 24th 2012 - 05:10 UTC
Full article 5 comments
Luiz Estevao was elected in 1998 Senator for the Federal District of Brasilia Luiz Estevao was elected in 1998 Senator for the Federal District of Brasilia

One of two senators in Brazil who were stripped of their positions for corruption will reimburse 234 million dollars in public funds he embezzled in the late 1990s, authorities said Thursday.

“This is the largest amount to be repaid in a corruption case. A fair bit of the money has been recovered but this is compensation for public funds stolen”, chief prosecutor Helia Bettero told reporters.

This is the largest ”monetary compensation in the fight against corruption in Brazil, and probably the world,” she said.

Luiz Estevao, one of the richest men in Brazil who served eight years in prison, is required to pay 468 million Brazilian real (234 million USD) to the country's Treasury.

The businessman has been accused of misappropriating funds meant to be used for the construction of a public building in Sao Paulo - a crime which led to his dismissal in 2000 and the loss of his political rights until 2008.

Estevao has agreed to repay part of his debt in 96 installments, with his remaining assets as collateral.

Only two senators have been dismissed by Parliament in Brazilian history: Estevao and Demostenes Torres.

Torres was fired in July because of his alleged links with bookies. He was arrested in February.


Categories: Politics, Brazil.

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  • vestias

    Assim é que os governos democraticos deviam fazer varrer a corrupção dentro dos corredores dos parlamentos a maior corrupção esta dentro da casa dos politicos Parabéns á justiça Brasileira por condenar um ex-senadore do Brasil

    Aug 24th, 2012 - 10:50 am 0
  • Brasileiro

    É. Todavia, essa mídia marrom em nenhum momento revela que esse filho da corrupção tem como o pai o PSDB.

    Aug 24th, 2012 - 09:19 pm 0
  • BAMF Paraguay

    So he stole how many millions?? What about interest?? Brazil is pathetic in their fight against corruption. The more money you keep giving to the government in the form of taxes, the more corruption you will have. The only ones that benefit from this socialist model are the people in power. Look at Lula and his son, they have huge amounts of land and cattle that they only acquired during his presidency. Dilma may be a little different, but she can't influence the whole of the corruption monster. The only way to end corruption is to lower the amount of money the government manages.

    Aug 24th, 2012 - 11:23 pm 0
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