Brazilian Judge Seizes R$ 9 Million in Ex-President Lula's Pension Funds

07/21/2017 - 10h10

Advertising

FROM CURITIBA

Brazilian judge Sergio Moro ordered on Thursday (20th) the seizure of R$ 9 million (US$ 2.8 million) in private pension funds from former president Luiz Inácio Lula da Silva.

The decision complies with a request from the Prosecutor General's Office for the seizure of assets to recover proceeds in connection with his corruption conviction from last week, regarding the case of the three-floor penthouse in Guarujá (coast of São Paulo).

Judge Moro's sentence shows that the purchase and renovation of the penthouse were financed by construction company OAS in return for lucrative contracts with Petrobras.

On Wednesday (19), Moro froze more than R$ 606,000 (US$ 190,000) found in Lula's bank accounts, in addition to four properties and two cars.

On Thursday, BrasilPrev reported it froze the balance of two private pension funds, amounting to R$ 9 million (US$ 2.8 million).

The amounts frozen will be deposited in court, and subsequently handed over to Petrobras, however, only in the event of a final conviction.

If Lula is found not guilty, his assets will be released and the amounts returned.

CANDIDACY

"There is only one solution for the country: direct elections and electing a president who is brave enough the look people in the face," stated former president Lula on Thursday (20) evening, at a speech given during an event to defend his candidacy in 2018, at Paulista Avenue (São Paulo).

Translated by ANA BEATRIZ DEMARIA

Read the article in the original language