It is also necessary to investigate what Moro received outside of Brazil. It may have been a masterstroke, says Joaquim de Carvalho.
A journalist explains that Alvarez & Marsal may now be taking the "final step in the coup" by buying cheap companies in Brazil.
247 - After being heavily pressured, the former judge suspected of wrongdoing, Sergio Moro announced on its social networks this Wednesday (26) who will announce the salary he received as a consultant for Alvarez & Marsal, which profited from companies that went bankrupt due to decisions in the Lava Jato corruption scandal. In response to the announcement, lawyer Rodrigo Tacla Durán questioned: “But will he also disclose what was received for the Alvarez & Marsal SPAC? Or will he only disclose what he will declare in Brazil and leave another part to declare in the US?”
Journalist Joaquim de Carvalho describes as a "masterstroke" a possible path for the investigation against Moro by the TCU (Federal Court of Accounts) and eventually by the Coaf (Council for the Control of Financial Activities). Last December, the CVM (Securities and Exchange Commission of Brazil) accepted A&M's request for registration as a publicly traded company – category "A" of the SPAC (Special Purpose Acquisition Company). Through it, the consultancy claims to have "the purpose of streamlining the process of access to the capital market for a target company to be identified in due course by the Sponsor".
"Alvarez & Marsal has just been authorized by the Brazilian CVM (Securities and Exchange Commission) to create a company called a SPAC. This exists in the United States but is not used in Brazil. The SPAC will raise capital, both outside and inside Brazil, and will not specify which companies it will invest in – because a SPAC is not obligated to do so – and will buy companies in difficulty," explained journalist Joaquim de Carvalho on TV 247.
“Look at this masterstroke: you ruin the country, destroy Brazil, companies become extremely cheap, and you raise funds to invest in Brazilian companies. And the company that puts up the money doesn't know which company Alvarez & Marsal will buy, but A&M handles the bankruptcy of several companies – many of them destroyed by Lava Jato,” he continues.
“But within the funds, to give credibility to the funds, you have a judge from Lava Jato involved in the construction of this company, in the compliance rules, and this reduces the risks of the business. Because the investment is made in the manager, in the ability to do business. As Tacla Durán reminded us, this company is called a blank check,” he added.
"If this line of investigation is correct, we are facing a masterstroke. You bankrupt the companies and then buy those same companies cheaply," he reflected.
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