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4h ago

Brazil's Federal Police Probe R$11 Million Client-Fund Diversion as Adviser Held in Operation Stop Loss

Investigators now focus on tracing transfers from the brokerage to determine whether funds moved abroad or involved accomplices.

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Segundo a PF, Biagi captava recursos de terceiros prometendo retorno expressivos

Overview

  • Frederico Goz Biagi was arrested on December 4 in Poços de Caldas and is being held in preventive detention at the Ribeirão Preto provisional detention center.
  • Authorities estimate at least R$11 million was diverted, with funds allegedly funneled through a company created with victims before being used in day-trade operations.
  • At least ten victims have come forward, including professionals and retirees, and a 65-year-old from Campinas reports losses exceeding R$1 million.
  • Police say fabricated earnings statements led clients to declare income they never received, generating tax bills on fictitious gains.
  • Biagi is expected to face at least six financial-system charges carrying potential combined penalties of 10 to 37 years, according to the Federal Police, and his defense has declined to comment.