Brazilian prosecutors shelve Pandora Papers inquiry into minister, cenbank chief

The office of Brazil's prosecutor-general has archived a preliminary inquiry into the nation's economy minister and central bank chief that had been opened in October after both men were named in the so-called "Pandora Papers." Brazilian news magazine Piaui and news website El Pais Brasil, both members of a network of outlets called the International Consortium of Investigative Journalists (ICIJ), first reported https://www.reuters.com/world/brazils-guedes-show-prosecutors-he-did-nothing-wrong-regarding-offshore-2021-10-06 on the use of offshore investment vehicles by Economy Minister Paulo Guedes and Central Bank Head Roberto Campos Neto.

Both men denied wrongdoing at the time and said the accounts had been properly declared. "As both the economy minister and the president of the Brazilian Central Bank demonstrated that the goods and assets they hold in all of the offshore accounts mentioned in the news reports tied to the Pandora Papers were reported to the competent authorities ... there is no need to open a formal investigative probe," Aldo de Campos Costa, a federal prosecutor, wrote in a formal decision on Wednesday.

Preliminary inquires can proceed formal investigations in Brazil and do not indicate that a crime has been committed.

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