Grupo Silvio Santos’ former chief executive officer Luiz Sandoval and former executives of Banco Panamericano SA are seeking 150 million reais ($74 million) of workers’ compensation from Banco BTG Pactual SA, Veja magazine columnist Lauro Jardim reported, without saying where he got the information.
Brazilian media mogul Silvio Santos , whose lender Banco Panamericano SA is under investigation for alleged fraud, may sell all his holding company’s assets except the TV channels to pay back a 2.5 billion-real ($1.5 billion) loan, he said in an interview with Veja magazine.
Banco BTG Pactual SA “hasn’t been notified” about executives including Grupo Silvio Santos’ former chief executive officer, Luiz Sandoval, seeking compensation, Leandro Buarque, a BTG spokesman, said by e-mail.
Grupo Silvio Santos , majority shareholder of Banco Panamericano SA , may sell its stake to repay a 2.5 billion reais ($1.5 billion) loan from the nation’s deposit insurance fund taken out to rescue the lender, central bank President Henrique Meirelles said.
Grupo Silvio Santos plans to split the ownership of direct sales company Jequiti in the first half and has hired Barclays Plc to seek a cosmetics group as a partner, Valor Economico reported, citing Lasaro do Carmo Junior, chief executive officer of Jequiti.
Silvio Santos , the Brazilian television host and controlling shareholder of Banco Panamericano SA , agreed to sell his stake to Banco BTG Pactual SA, the investment bank run by billionaire Andre Esteves , amid speculation losses are growing.
Silvio Santos , the Brazilian media mogul whose Banco Panamericano SA is under investigation for alleged fraud, sought bailout funds after he discovered his own credit card company owed the bank 400 million reais ($232 million), a person close to the probe said.
Banco Panamericano SA ’s controlling shareholder, Grupo Silvio Santos , will inject 2.5 billion reais ($1.5 billion) into the bank to shore up capital. The lender said it shuffled the board and named a new chief executive officer after finding “accounting inconsistencies.”
Brazil’s tax agency may charge Silvio Santos 1 billion reais ($600 million) in taxes after the nation’s bank deposit insurance fund covered debt owed by the television host, Folha de S.Paulo reported, citing unidentified auditors and Paulo de Barros Carvalho, a professor of taxation.