TCU opens audit at PREVI and triggers PF and MPF to investigate conflict of interest
The Federal Court of Audit (TCU) authorized, on Wednesday (9), the opening of a new audit at PREVI, the Banco do Brasil employees pension fund, to investigate possible irregularities and conflicts of interest involving the president of the entity, João Luiz Fukunaga.
The unanimous decision of the Court also determines the sending of the case to the Federal Police (PF) and the Federal Prosecutor (MPF), which may open criminal investigations based on the evidence presented.
Alckmin says Brazil will negotiate with USA to reduce import tariff
Minister cites imbalance in trade balance and says 8 of 10 US products enter Brazil with zero tariff
Peter Navarro: Who is Trump’s “tariff” architect (and Elon Musk’s Archirrival)
75-year-old economist was a key piece in the formulation of Trump’s trade policies, including the tariff plan known as “Liberation Day”
Rapporteur of the TCU process and dean, Minister Walton Alencar Rodrigues criticized the governance of Previ and highlighted the need to investigate Fukunaga’s performance in advice on companies in which the fund holds relevant stakes, such as Vale.
I want my wallet
“It is necessary to investigate whether the maintenance of PREVI’s relevant position in Vale aims to ensure Fukunaga’s permanence on the company’s board and ensure its remuneration, around R $ 2 million per year,” Walton said during the trial. According to him, the monthly figure, equivalent to more than R $ 160 thousand, may compromise the impartiality of the manager in relation to the interests of Previ and the mining company itself.
“The minister also defended a broader analysis of eventual conflicts of interest in allocating the fund’s resources.” It is imperative to evaluate the conflict of interest existing in the allocation of resources in companies that, on the other hand, offer the leaders of large council remuneration, “he said.
Another point of attention cited by Walton Alencar is the R $ 17.6 billion deficit recorded by Previ by the end of 2024. The Court will also investigate whether there is a risk to fund sustainability due to the possible migration of variable income resources to the real estate sector.
The international trips made by Fukunaga and their dialogue with market agents will also be determined. The minister sees ‘potential risks to the integrity of investments’ and stated that the behavior should be thoroughly examined by the court technicians.
In early March, the President of Previ told the press that he does not fear any TCU investigation. The new audit, however, expands the siege around the management of the entity, which is responsible for managing one of the largest pension funds in Latin America.
