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Brazil's police to probe incoming Economy Minister Guedes -report

Updated: 01-12-2018 01:15 IST
Brazil's federal police opened an investigation into incoming Economy Minister Paulo Guedes for alleged fraud tied to the pension funds of state-run companies, the Folha de S.Paulo newspaper reported on Friday.

According to the report, the probe will check if Guedes, a University of Chicago-trained economist credited with nudging President-elect Jair Bolsonaro toward market-friendly policies, mismanaged millions of reais that public pension funds put in his investment vehicles starting in 2009. Guedes lawyers denied any wrongdoing, the paper said. (Reporting by Marcelo Teixeira; Editing by Richard Chang)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)