Brazilian state prosecutors sue Master Corretora over pension fund losses and loan irregularities

The Rio de Janeiro State Attorney General (PGE‑RJ) filed three lawsuits on 16 May against Master Corretora and fund managers for alleged losses of about R$641 million suffered by the state pension fund (Rioprevidência). The actions target the Revolution and Texas I FIA funds, citing a coordinated share‑purchase scheme and regulatory breaches, and request the freezing of assets including real estate, vehicles and cryptocurrencies.

The Mato Grosso State Attorney General (PGE‑MT) launched civil public actions against ten companies, including Master, over purported irregularities in payroll‑deducted credit operations. The complaints allege that credit‑card arrangements were disguised as loans, charging higher interest rates. The state seeks recalculation of the amounts owed, suspension of further payments and the deposit of disputed funds in court.