BRB seeks R$2.2B damages from Banco Master over alleged R$12.2B fraud

Brazil's state-owned bank BRB is suing Banco Master for R$2.2 billion in damages, alleging the group transferred R$12.2 billion in portfolios containing non-existent assets. The claim, based on ongoing investigations, marks a significant escalation in a financial fraud case. The outcome could affect Brazil's banking sector confidence and regulatory scrutiny.

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