Instituto Iter received R$ 5 million from Cedro Participações

The Instituto Iter, an entity founded by Supreme Court Justice André Mendonça, received approximately R$ 5.2 million from Cedro Participações through a convertible loan agreement. The transaction was formalized in April 2024. Cedro Participações is controlled by businessman Lucas Kallas, who has been identified in various investigations as a business partner of Daniel Vorcaro, the former controller of Banco Master.

According to the institute, the negotiations were conducted by its president, former Minister of Education Victor Godoy Veiga, and representatives from Cedro. The institute maintains that all funds were used exclusively for its structuring and activities, denying that Mendonça participated in the negotiations or received any profits or dividends.

Questions have been raised regarding the timing of the transaction, as the decision to terminate the contract and begin repaying the debt occurred shortly before Mendonça was assigned as the rapporteur for investigations involving Banco Master at the Supreme Court. The institute stated that the interruption of the transfers was due to the entity reaching financial sustainability.