.jpg)
2 hours ago
2
Article content
(Bloomberg) — Brazilian prosecutors filed charges against businessman Nelson Tanure for using inside information in financial transactions that involved real estate developer Gafisa SA.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Tanure, a former board member at Gafisa, worked with the controller of another company, Upcon, in 2019 and 2020 to financially benefit from a transaction between the companies, Estadão reported, citing investigations by the Public Prosecutor’s Office.
Article content
Article content
In a statement, Tanure’s lawyers denied wrongdoing and said the facts would be cleared up in the legal process. Prosecutors must present their case to a federal judge, who would decide whether to accept the charges, Estadão said.
Article content
Article content
Tanure is one of Brazil’s highest-profile investors, known for opportunistic plays in distressed and restructuring situations, from telecommunications operator Oi SA to power utility Light SA.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Earlier this year he made a bid to acquire a controlling stake in Braskem SA, Latin America’s largest petrochemical company, though the discussions fell apart.
Article content
He has a health business, Alliança Saúde e Participacões SA, and infrastructure investments such as Emae, São Paulo’s metropolitan water and energy utility. His portfolio also includes significant equity positions in energy and oil companies, including Light and PRIO SA.
Article content
In the statement, Tanure’s lawyers said he’s never been accused of any criminal act associated with a company where he was a shareholder. His actions have been scrutinized by regulators in the past, including a high-profile case related to waste-management firm Ambipar Participacões e Empreendimentos SA. The securities regulator ultimately didn’t pursue any action against him in that case.
Article content
Advertisement 1
English (US)