BTG Pactual founder Esteves freed by Brazil’s Supreme Court

Samantha Pearson – Financial Times, 04/26/2016

Brazil’s star banker André Esteves, who was jailed in November over corruption allegations, has been freed by the Supreme Court in a move that is set to delight investors but heap criticism on the country’s landmark graft investigation.

BTG Pactual, Latin America’s largest standalone investment bank, said on Tuesday that Mr Esteves, its billionaire founder, was a “free man”, adding that he would be allowed to return to the bank if he so wished.

Mr Esteves was placed in preventive custody in November over allegations he obstructed the nationwide investigation into kickbacks at state-controlled oil company Petrobras — Brazil’s largest-ever corruption scandal.

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