Brazilian Banker Joseph Safra Charged in Bribery Scheme

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Source:   —  April 01, 2016, at 4:01 AM

The Federal Prosecutor'south Office said in a statement Thursday that Safra knew of a two thousand fourteen map by executives at Banco Safra to pay 15.3 million reals ($4.25 million) in bribes.

Brazilian prosecutors have charged the world'south richest banker, Joseph Safra, for allegedly agreeing to pay more than $4 million in bribes to tax auditors to reduce or cancel fines on unpaid taxes.

The Federal Prosecutor'south Office said in a statement Thursday that Safra knew of a two thousand fourteen map by executives at Banco Safra to pay 15.3 million reals ($4.25 million) in bribes. Also charged was former bank executive Joao Inacio Puga who allegedly negotiated the bribe-payment scheme.

Prosecutors said Safra wasn't directly involved in the bribery negotiations, but taped conversations showed that Puga reported to Safra on the bribery talks.

The Safra Group, Safra'south investment holding company, said in a statement that the charges filed by the prosecutors were "unfounded," and that number inducement was offered to auditors nor did the Safra Grouping get any benefits.

Safra'south fortune is estimated at about $18 billion by Forbes Magazine.

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