for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

Brazil police probes graft involving post office pension fund

SAO PAULO, Feb 1 (Reuters) - Brazilian federal police served 100 search-and-seizure warrants on Thursday as part of an investigation into alleged graft involving a pension fund for post office workers.

A police statement did not name any targets of the investigation, but said they included managers at the Postalis fund, executives at a foreign financial institution, listed companies and risk-assessment firms.

Postalis, which came under federal management last year due to alleged fraud, suffered losses worth 6 billion reais ($1.9 billion) as a result of embezzlement, the statement said, forcing post office workers to increase their retirement savings.

Postalis representatives did not immediately respond to a request for comment.

$1 = 3.1858 reais Reporting by Eduardo Simões; Writing by Bruno Federowski; Editing by Gareth Jones

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up