IBOV 172,179.93 ▼ 0.19% IPSA 11,268.86 ▲ 0.11% IPC MEX 66,438.58 ▼ 0.75% MERVAL 3,122,064 — 0.00% COLCAP 2,372.50 ▲ 0.94% BVL PERÚ 59,581.33 ▲ 0.19% USD/BRL5.10▼ 0.11% USD/MXN17.11▼ 0.19% USD/CLP913.30▼ 0.43% USD/COP3,121▼ 1.12% USD/PEN3.37▼ 0.23% USD/ARS1,491▼ 0.49% USD/UYU40.23▲ 1.56% USD/PYG5,925▲ 1.88% USD/BOB11.72▲ 0.37% USD/DOP58.20▲ 1.20% USD/CRC447.79▲ 1.51% USD/GTQ7.62▲ 2.47% USD/HNL26.78▲ 1.86% USD/NIO36.62▲ 1.01% USD/VES759.31▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.39▲ 0.39% USD/TTD6.71▲ 1.22% EUR/BRL5.89▲ 0.37% BRENT 89.21 ▲ 1.70% WTI 83.67 ▲ 1.88% IRON ORE 161.91 — — COPPER 6.68 ▲ 1.25% GOLD 4,436 ▲ 1.71% SILVER 65.20 ▲ 0.14% SOY 1,181 ▲ 1.99% CORN 463.75 ▲ 5.82% WHEAT 646.75 ▲ 0.98% COFFEE 321.70 ▼ 3.19% SUGAR 16.59 ▲ 0.73% ORANGE JUICE 144.30 ▲ 1.23% COTTON 84.25 ▲ 1.85% COCOA 5,837 ▲ 0.27% BEEF 226.70 ▼ 2.16% CATTLE 344.38 ▼ 2.07% LITHIUM 74.74 ▲ 0.99% PETR4 42.23 ▲ 3.33% VALE3 75.93 ▲ 1.28% ITUB4 40.42 ▼ 0.81% BBDC4 17.18 ▼ 0.75% ABEV3 15.27 ▼ 1.36% BBAS3 20.03 ▼ 0.15% B3SA3 14.67 ▼ 1.87% WEGE3 47.63 ▼ 1.02% PRIO3 61.24 ▲ 6.60% SUZB3 41.29 ▼ 0.98% RENT3 36.30 ▼ 4.02% AZZA3 16.75 ▼ 1.53% CSAN3 3.45 ▼ 5.99% RAIZ4 0.25 ▼ 3.85% PCAR3 2.84 ▼ 2.74% GMAT3 3.68 ▼ 1.34% PSSA3 49.70 ▼ 1.43% CVCB3 1.42 ▼ 6.58% POSI3 3.50 ▼ 0.85% SLCE3 13.37 ▲ 1.13% NATU3 8.08 ▼ 2.42% BRKM5 5.75 ▼ 3.20% RANI3 8.02 ▼ 2.50% CSNA3 4.46 ▼ 2.41% CMIN3 5.46 ▲ 0.18% USIM5 7.16 ▲ 0.14% GGBR4 25.25 ▲ 0.80% ENEV3 25.32 ▼ 3.29% CPFE3 44.40 ▼ 0.89% CMIG4 10.68 ▼ 2.20% EQTL3 36.77 ▼ 1.37% LREN3 12.12 ▼ 2.18% VIVT3 30.55 ▼ 0.10% RAIL3 13.22 ▼ 2.72% KLABIN 17.86 ▼ 0.83% RAIA DROGASIL 19.38 ▼ 4.15% RDOR3 33.97 ▲ 0.15% HAPV3 10.30 ▼ 4.36% FLRY3 18.82 ▼ 0.69% SMTO3 14.95 ▲ 1.22% UGPA3 31.00 ▼ 0.90% VBBR3 33.44 ▼ 2.31% BBSE3 38.23 ▼ 0.39% BPAC11 53.86 ▲ 1.37% CURY3 31.69 ▲ 1.05% AERI3 2.31 ▲ 0.87% VIVARA 21.64 ▲ 0.05% COMPASS 22.52 ▼ 1.36% VAMOS 2.91 ▼ 5.52% SANB11 29.25 ▼ 0.07% ASAI3 8.06 ▼ 2.18% SBSP3 26.55 ▼ 1.26% WALMEX 48.30 ▼ 2.37% GMEXICO 225.00 ▲ 0.09% FEMSA 205.60 ▼ 1.93% CEMEX 19.43 ▼ 0.56% GFNORTE 197.03 ▼ 1.38% BIMBO 61.52 ▲ 0.61% TELEVISA 10.01 ▲ 2.25% AMX 20.52 ▲ 0.44% GAP 370.28 ▼ 2.88% ASUR 274.62 ▼ 0.74% OMA 232.51 ▼ 1.55% KOF 186.29 ▼ 1.49% GRUMA 255.42 ▲ 0.20% KIMBER 40.38 ▼ 0.93% SQM-B 66,950 ▲ 1.76% COPEC 6,102 ▼ 0.21% BSANTANDER 81.80 ▲ 2.05% FALABELLA 6,439 ▼ 0.47% ENELAM 87.50 ▲ 0.11% CENCOSUD 2,050 — 0.00% CMPC 1,036 ▲ 0.54% BANCO CHILE 189.76 ▲ 0.59% LATAM AIR 24.79 ▼ 3.91% YPF 8,065 ▲ 3.73% GGAL 7,360 ▲ 0.62% PAMPA 5,240 — 0.00% TXAR 754.50 ▲ 5.45% ALUAR 951.50 ▲ 1.82% TGS 9,330 ▲ 2.13% CEPU 2,188 ▼ 0.91% MIRGOR 1,690 ▲ 3.68% COME 42.89 ▲ 3.82% LOMA NEGRA 3,260 ▼ 0.15% BYMA 286.75 ▼ 1.46% TELECOM ARG 4,520 ▲ 3.20% ECOPETROL 17.05 ▲ 1.61% BANCOLOMBIA 91.47 ▲ 2.95% GRUPO AVAL 5.28 ▲ 4.35% CREDICORP 382.21 ▼ 1.22% SOUTHERN COPPER 200.11 ▲ 0.53% BUENAVENTURA 34.61 ▲ 1.35% MERCADOLIBRE 1,824 ▲ 0.20% NUBANK 13.86 ▲ 0.14% XP 16.20 ▼ 0.25% PAGSEGURO 9.08 ▼ 0.66% STONE 10.37 ▼ 2.17% GLOBANT 38.58 ▲ 3.14% TECNOGLASS 41.43 ▼ 6.14% GAP AIRPORT 216.17 ▼ 2.93% ASUR 274.62 ▼ 0.74% OMA AIRPORT 108.53 ▼ 1.73% AMX ADR 23.89 ▲ 0.59% FEMSA ADR 119.92 — 0.00% CEMEX ADR 11.30 ▼ 0.26% PETROBRAS ADR 18.33 ▲ 2.06% VALE ADR 14.89 ▲ 1.22% ITAU ADR 7.88 ▼ 0.76% SANTANDER BR 5.76 ▼ 0.86% AMBEV ADR 2.94 ▼ 2.00% CSN 0.90 ▼ 3.05% GERDAU 4.96 — 0.00% LATAM ADR 53.74 ▼ 5.25% BTC 64,187 ▲ 0.43% ETH 1,886 ▲ 0.79% SOL 75.94 ▼ 0.01% XRP 1.01 ▼ 0.64% BNB 607.51 ▲ 1.47% ADA 0.19 ▼ 1.60% DOGE 0.07 ▲ 1.14% AVAX 6.50 ▲ 1.00% LINK 8.68 ▲ 4.72% DOT 0.80 ▼ 0.15% LTC 45.42 ▲ 0.69% BCH 214.46 ▲ 0.63% TRX 0.34 ▲ 1.77% XLM 0.16 ▼ 0.42% HBAR 0.07 ▼ 0.59% NEAR 1.60 ▼ 0.46% ATOM 1.42 ▲ 1.27% AAVE 89.01 ▼ 0.14% SELIC 14.00% EMBRAER 94.66 ▲ 2.31% EMBRAER ADR 73.80 ▲ 1.08% JBS 13.41 ▼ 5.76% JBS BDR 68.91 ▼ 4.41% MBRF3 15.94 ▼ 0.81% MBRFY 3.10 ▼ 0.64% INTER 5.35 ▲ 1.52% EGX 54,649 ▼ 0.41% USD/ZAR16.18▼ 0.14% USD/NGN 1,359 — 0.00% NIKKEI 66,970 ▲ 2.08% CSI300 4,664 ▼ 0.81% HSI 25,653 ▼ 1.10% NIFTY 24,472 ▼ 0.46% KOSPI 6,346 ▲ 0.73% JCI 6,268 ▼ 1.53% USD/JPY159.19▼ 0.07% USD/CNY6.73▼ 0.19% DAX 26,315 ▼ 0.03% CAC 8,713 ▼ 0.15% FTSE 10,869 ▲ 0.06% MIB 53,656 ▼ 0.01% IBEX 20,243 ▲ 0.35% STOXX 660.98 ▲ 0.08% EUR/USD1.15▲ 0.03% GBP/USD1.35▲ 0.07% SPX 7,753 ▼ 0.06% DJI 53,976 ▼ 0.11% NDX 29,622 ▼ 0.34% RUT 3,017 ▼ 0.56% TSX 36,458 ▲ 0.21% VIX 15.51 ▲ 0.32% USD/CAD1.39▼ 0.06% US10Y 4.6990 ▲ 0.84% IBOV 172,179.93 ▼ 0.19% IPSA 11,268.86 ▲ 0.11% IPC MEX 66,438.58 ▼ 0.75% MERVAL 3,122,064 — 0.00% COLCAP 2,372.50 ▲ 0.94% BVL PERÚ 59,581.33 ▲ 0.19% USD/BRL 5.11 ▲ 0.06% USD/MXN 17.13 ▼ 0.08% USD/CLP 916.37 ▼ 0.10% USD/COP 3,138 ▼ 0.57% USD/PEN 3.38 ▼ 0.01% USD/ARS 1,498 ▼ 0.01% USD/UYU 40.25 ▲ 1.59% USD/PYG 5,922 ▲ 1.83% USD/BOB 11.80 ▲ 0.17% USD/DOP 58.12 ▲ 1.06% USD/CRC 447.88 ▲ 1.53% USD/GTQ 7.62 ▲ 2.49% USD/HNL 26.78 ▲ 1.87% USD/NIO 36.62 ▲ 1.01% USD/VES 759.31 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.33% USD/TTD 6.68 ▲ 0.71% EUR/BRL 5.90 ▲ 0.51% BRENT 89.21 ▲ 1.70% WTI 83.67 ▲ 1.88% IRON ORE 161.91 — — COPPER 6.68 ▲ 1.25% GOLD 4,436 ▲ 1.71% SILVER 65.20 ▲ 0.14% SOY 1,181 ▲ 1.99% CORN 463.75 ▲ 5.82% WHEAT 646.75 ▲ 0.98% COFFEE 321.70 ▼ 3.19% SUGAR 16.59 ▲ 0.73% ORANGE JUICE 144.30 ▲ 1.23% COTTON 84.25 ▲ 1.85% COCOA 5,837 ▲ 0.27% BEEF 226.70 ▼ 2.16% CATTLE 344.38 ▼ 2.07% LITHIUM 74.74 ▲ 0.99% PETR4 42.23 ▲ 3.33% VALE3 75.93 ▲ 1.28% ITUB4 40.42 ▼ 0.81% BBDC4 17.18 ▼ 0.75% ABEV3 15.27 ▼ 1.36% BBAS3 20.03 ▼ 0.15% B3SA3 14.67 ▼ 1.87% WEGE3 47.63 ▼ 1.02% PRIO3 61.24 ▲ 6.60% SUZB3 41.29 ▼ 0.98% RENT3 36.30 ▼ 4.02% AZZA3 16.75 ▼ 1.53% CSAN3 3.45 ▼ 5.99% RAIZ4 0.25 ▼ 3.85% PCAR3 2.84 ▼ 2.74% GMAT3 3.68 ▼ 1.34% PSSA3 49.70 ▼ 1.43% CVCB3 1.42 ▼ 6.58% POSI3 3.50 ▼ 0.85% SLCE3 13.37 ▲ 1.13% NATU3 8.08 ▼ 2.42% BRKM5 5.75 ▼ 3.20% RANI3 8.02 ▼ 2.50% CSNA3 4.46 ▼ 2.41% CMIN3 5.46 ▲ 0.18% USIM5 7.16 ▲ 0.14% GGBR4 25.25 ▲ 0.80% ENEV3 25.32 ▼ 3.29% CPFE3 44.40 ▼ 0.89% CMIG4 10.68 ▼ 2.20% EQTL3 36.77 ▼ 1.37% LREN3 12.12 ▼ 2.18% VIVT3 30.55 ▼ 0.10% RAIL3 13.22 ▼ 2.72% KLABIN 17.86 ▼ 0.83% RAIA DROGASIL 19.38 ▼ 4.15% RDOR3 33.97 ▲ 0.15% HAPV3 10.30 ▼ 4.36% FLRY3 18.82 ▼ 0.69% SMTO3 14.95 ▲ 1.22% UGPA3 31.00 ▼ 0.90% VBBR3 33.44 ▼ 2.31% BBSE3 38.23 ▼ 0.39% BPAC11 53.86 ▲ 1.37% CURY3 31.69 ▲ 1.05% AERI3 2.31 ▲ 0.87% VIVARA 21.64 ▲ 0.05% COMPASS 22.52 ▼ 1.36% VAMOS 2.91 ▼ 5.52% SANB11 29.25 ▼ 0.07% ASAI3 8.06 ▼ 2.18% SBSP3 26.55 ▼ 1.26% WALMEX 48.30 ▼ 2.37% GMEXICO 225.00 ▲ 0.09% FEMSA 205.60 ▼ 1.93% CEMEX 19.43 ▼ 0.56% GFNORTE 197.03 ▼ 1.38% BIMBO 61.52 ▲ 0.61% TELEVISA 10.01 ▲ 2.25% AMX 20.52 ▲ 0.44% GAP 370.28 ▼ 2.88% ASUR 274.62 ▼ 0.74% OMA 232.51 ▼ 1.55% KOF 186.29 ▼ 1.49% GRUMA 255.42 ▲ 0.20% KIMBER 40.38 ▼ 0.93% SQM-B 66,950 ▲ 1.76% COPEC 6,102 ▼ 0.21% BSANTANDER 81.80 ▲ 2.05% FALABELLA 6,439 ▼ 0.47% ENELAM 87.50 ▲ 0.11% CENCOSUD 2,050 — 0.00% CMPC 1,036 ▲ 0.54% BANCO CHILE 189.76 ▲ 0.59% LATAM AIR 24.79 ▼ 3.91% YPF 8,065 ▲ 3.73% GGAL 7,360 ▲ 0.62% PAMPA 5,240 — 0.00% TXAR 754.50 ▲ 5.45% ALUAR 951.50 ▲ 1.82% TGS 9,330 ▲ 2.13% CEPU 2,188 ▼ 0.91% MIRGOR 1,690 ▲ 3.68% COME 42.89 ▲ 3.82% LOMA NEGRA 3,260 ▼ 0.15% BYMA 286.75 ▼ 1.46% TELECOM ARG 4,520 ▲ 3.20% ECOPETROL 17.05 ▲ 1.61% BANCOLOMBIA 91.47 ▲ 2.95% GRUPO AVAL 5.28 ▲ 4.35% CREDICORP 382.21 ▼ 1.22% SOUTHERN COPPER 200.11 ▲ 0.53% BUENAVENTURA 34.61 ▲ 1.35% MERCADOLIBRE 1,824 ▲ 0.20% NUBANK 13.86 ▲ 0.14% XP 16.20 ▼ 0.25% PAGSEGURO 9.08 ▼ 0.66% STONE 10.37 ▼ 2.17% GLOBANT 38.58 ▲ 3.14% TECNOGLASS 41.43 ▼ 6.14% GAP AIRPORT 216.17 ▼ 2.93% ASUR 274.62 ▼ 0.74% OMA AIRPORT 108.53 ▼ 1.73% AMX ADR 23.89 ▲ 0.59% FEMSA ADR 119.92 — 0.00% CEMEX ADR 11.30 ▼ 0.26% PETROBRAS ADR 18.33 ▲ 2.06% VALE ADR 14.89 ▲ 1.22% ITAU ADR 7.88 ▼ 0.76% SANTANDER BR 5.76 ▼ 0.86% AMBEV ADR 2.94 ▼ 2.00% CSN 0.90 ▼ 3.05% GERDAU 4.96 — 0.00% LATAM ADR 53.74 ▼ 5.25% BTC 64,187 ▲ 0.43% ETH 1,886 ▲ 0.79% SOL 75.94 ▼ 0.01% XRP 1.01 ▼ 0.64% BNB 607.51 ▲ 1.47% ADA 0.19 ▼ 1.60% DOGE 0.07 ▲ 1.14% AVAX 6.50 ▲ 1.00% LINK 8.68 ▲ 4.72% DOT 0.80 ▼ 0.15% LTC 45.42 ▲ 0.69% BCH 214.46 ▲ 0.63% TRX 0.34 ▲ 1.77% XLM 0.16 ▼ 0.42% HBAR 0.07 ▼ 0.59% NEAR 1.60 ▼ 0.46% ATOM 1.42 ▲ 1.27% AAVE 89.01 ▼ 0.14% SELIC 14.00% EMBRAER 94.66 ▲ 2.31% EMBRAER ADR 73.80 ▲ 1.08% JBS 13.41 ▼ 5.76% JBS BDR 68.91 ▼ 4.41% MBRF3 15.94 ▼ 0.81% MBRFY 3.10 ▼ 0.64% INTER 5.35 ▲ 1.52% EGX 54,649 ▼ 0.41% USD/ZAR 16.20 ▲ 0.03% USD/NGN 1,359 — 0.00% NIKKEI 66,970 ▲ 2.08% CSI300 4,664 ▼ 0.81% HSI 25,653 ▼ 1.10% NIFTY 24,472 ▼ 0.46% KOSPI 6,346 ▲ 0.73% JCI 6,268 ▼ 1.53% USD/JPY 159.14 ▼ 0.05% USD/CNY 6.7334 ▼ 0.06% DAX 26,315 ▼ 0.03% CAC 8,713 ▼ 0.15% FTSE 10,869 ▲ 0.06% MIB 53,656 ▼ 0.01% IBEX 20,243 ▲ 0.35% STOXX 660.98 ▲ 0.08% EUR/USD 1.1542 ▼ 0.03% GBP/USD 1.3503 ▼ 0.03% SPX 7,753 ▼ 0.06% DJI 53,976 ▼ 0.11% NDX 29,622 ▼ 0.34% RUT 3,017 ▼ 0.56% TSX 36,458 ▲ 0.21% VIX 15.51 ▲ 0.32% USD/CAD 1.3932 ▼ 0.01% US10Y 4.6990 ▲ 0.84%
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Opinion: An End to Impunity in Brazil?

By · February 20, 2016 · 3 min read

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Opinion by Michael Royster

RIO DE JANEIRO, BRAZIL – The Curmudgeon, whose daytime job involves laws rather than public health, today wishes to proclaim that this week, Brazil’s Supreme Court (STF) has taken a major step towards reducing impunity in Brazil. In a controversial landmark 7-4 decision, the STF decided that criminals who have been convicted by a lower court, and who have had that conviction confirmed by an appellate court, must go to jail and begin serving their sentence.

The Curmudgeon, aka Michael Royster.
The Curmudgeon, aka Michael Royster.
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If you’re used to the anglo-american system of justice, you’re probably wondering why this is controversial. The rule there is that once you’re convicted at the lower court level, you “go directly to jail, do not pass Go, do not collect $200”. If you appeal, you remain in jail serving your time while your appeal is heard.

In Brazil, however, the rule has long been different. Here, even though you have been convicted, you have the right to remain out of jail until such time as your very last appeal has been denied and the lower court decision has become final.

That is often twenty years or more, because Brazilian criminal procedure has far more appeal possibilities than the U.S. system, the appellate court system is overloaded and almost every conviction winds up going to the STF or the STJ, the supreme courts for constitutional and non-constitutional matters.

There’s a worse problem with the Brazilian system. Statutes of limitations on most crimes continue to run while appeals are pending. In other words, if your conviction has not become final within the statutory period, you walk

This occurred during the Mensalão Scandal, where the appeals had run so long that the STF was under immense pressure to take a final decision before the statute of limitations ran out.

The justification used by defenders of Brazil’s erstwhile system is the “presumption of innocence”. In other words, the lower court may have got it wrong, the appellate court as well, so until the STF/STJ decides, you must be presumed innocent — and innocent people shouldn’t be in jail.

This justification may be based upon the historic track record of lower courts, which are overworked and often incompetent, although most judges make very good money. It is also based upon the greed of criminal attorneys, whose fees grow proportionately to the number of appeals.

But the true origin of the overturned Brazilian rule is that it was purposely designed to ensure impunity to Brazil’s elite—in Brazil, as everyone knows, “rich people don’t go to jail”. Poor people don’t have adequate legal assistance, so they almost never appeal. Rich people can afford clever lawyers, who will game the system to ensure their clients stay out of jail forever.

This STF decision will affect numerous white-collar criminals, notably some who have been and will be convicted for crimes in connection with the Petrolão Scandal. Their lawyers will continue their appeals, but the criminals will remain in jail while they do.

That is a sea change for Brazil’s system of justice, and a vast improvement over the past.

The Curmudgeon has returned from a Zika-free zone to a largely shame-free zone, but is immensely pleased to discover some good news.

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