Brazil Workers Party’s Money Man Sues PT to Get His Money Back

Advertising executive Marcos Valério is taking Brazil’s Workers Party (PT) to court to recover the US$ 38.60 million (93 million reais) that he says the party owes him. Two suits were filed on Friday, August 19, in São Paulo by João Manuel Martin, one of Valério’s lawyers.

The first suit, according to Martin, was filed in Valério’s name, demanding repayment of US$ 190,950 (460,000 reais), referring to an unpaid installment of a loan made to the party, with Valério as cosigner, in 2004. The installment was worth US$ 145,280 (350,000 reais) at the time.


The second suit was filed in name of the firms SMP&B and Graffiti. In this instance, Valério is charging the PT slightly over US$ 38.2 million (92 million reais).


According to his lawyer, the entrepreneur is claiming that, in name of the two firms, he borrowed US$ 22.8 million (55 million reais) from banks at the request of the PT.


In terms of updated values, the debt is now estimated to be worth a little over US$ 38.2 million (92 million reais).


ABr

Tags:

You May Also Like

Brazil’s Petrobras to End 2008 with Oil Trade Balance Surplus

Brazil's state-controlled gas and oil multinational Petrobras should end the year with an oil ...

Brazil Consolidates Uruguay Presence with First of Series of Gas Stations

Petrobras, the Brazilian state controlled oil giant, is consolidating its entry in the fuel ...

Lula’s Over 80% Popularity Is Giving His Pick to Succeed Him Big Boost

Michelle Bachelet and Luiz Inácio Lula da Silva, two outgoing South American presidents have ...

Brazilian community paper printed in the US East Coast

Brazil – Many Emigrants, Fewer Immigrants

In the late 19th and early 20th centuries an estimated 3.5 million people from ...

Brazilians Cheer the New Year with Bullish Push

Brazilian and Latin American stocks gained ground on friendly signals from the U.S. Federal ...

Brazil’s Barbecue Alchemist Is Bringing His Art to the US

Neither doctor, nor astronaut, nor fireman. The childhood dream of Ricardo Penna was always ...

The Immigrant Museum in São Paulo, Brazil

An Old Brazilian Inn Tells Stories of Old Arab Peddlers

The construction of a buildings complex covering a 30,000 square meters area in the ...

Up-and-coming Brazilian Singer Lili Rocha Is a Rocking Rising Star

Lili Rocha’s singing career began in the streets and squares of her small native ...

Only Federalization Can Save Brazil’s Schools

Brazil has a public university system and technical schools that meet international standards and ...