Nineteen Properties, Organized Crime Calls, Irregular Profits

By Henry Montalto

RIO DE JANEIRO, BRAZIL – Flávio Bolsonaro, an elected senator of Rio de Janeiro, eldest son of Jair Bolsonaro, has just had his situation turn from “concerning” for the President’s administration to a potentially dire situation for all of Brazil.

The investigation into Flavio Bolsonaro, Fabricio Queiroz, and 95 of his associates have brought to light new details regarding nineteen purchases of properties throughout Rio de Janeiro, most of which were undervalued, says Brazilian news outlet Veja in its latest report.

From 2010 to 2017, the then state deputy Flavio Bolsonaro spent R$9.425 (US$2.35) million on the purchases of these properties and made R$3.089 million on business deals and selling overvalued apartments within those seven years.

According to the prosecutors, these purchases have a strong indication of money laundering and organized crime. Therefore, the Financial Activities control Council (COAF) started the investigation.

One more damaging piece of information is from 2008 to 2010 when Flavio purchased ten business workspaces for R$2.662 million and sold them to a company called MCA Exports for R$3.167 million.

The Military Police say that in the action they discovered severe embezzlement indications and criminal organization.

As noted in the reports by federal investigators, Flavio Bolsonaro purchased a house in Copacabana on Rua Barata Ribeiro for R$170,000 and 12 months later sold it for R$573,000, at a 237 percent profit.

On Avenida Prado Junior, also Copacabana, he bought an apartment for R$140,000  and 15 months later, in January 2014, sold it for R$550,000. That represents nearly a 292 percent increase in value, and at that time in 2014, the housing market in Copacabana was at a low point.

The prosecutors in the criminal investigation point out that the declared purchases made by Flavio Bolsonaro were hugely undervalued in comparison to similar apartments on the market.

It is also reported that the purchases of these two apartments were brokered by an American, Glenn Howard Dillard, who is accused of not paying out the sale money to owner Charles Eldering who had put the flats on the market.

Other properties included in the total number of 19 are located in Botafogo, Barra da Tijuca, and Laranjeiras.

On the night of Wednesday (15th), the statement from Flavio’s office said: “The report by Brazilian Veja Magazine is not true. The values reported are false and do not even come close to the real values.”

He also said these leaks are illegal. However, the criminal investigators would not agree with Flavio, and this is why they broke the secrecy. They found that the information is now beyond a reasonable doubt and is proving to be serious.

Unfortunately for the Bolsonaro Administration, this is not looking to go away and has already created divide and disagreement among the battered government officials.

Full Statement by Flavio Bolsonaro:

“The information leaked in Veja magazine about my assets is not true. I continue to be the victim of constant leaks of information contained in a lawsuit that is a matter of secrecy.”

“The reported values are false and do not even come close to the actual values. I always declare all my assets to the IRS, and everything is compatible with my income.”

“I have a clean past and have never committed any irregularities in my life. Everything will be proven in due time in the legal process. I regret that some Rio authorities continue to illegally work to leak sensitive information to the press, wanting to conduct the publicity.”

(Source: Veja Magazine)