Banco Santander Recovers €60,000 from Jair Renan Bolsonaro
Jair Renan Bolsonaro, son of former Brazilian President Jair Bolsonaro, repays loan amid legal actions and allegations.
Banco Santander has successfully recovered €60,000 from Jair Renan Bolsonaro, the son of former Brazilian President Jair Bolsonaro and a current councilman in Brazil.
The loan, which Bolsonaro had not repaid, led the bank to seek a judicial lien on his assets.
The bank filed a request for the embargo of Bolsonaro Jr.'s properties after he failed to repay the loan, prompting a Brazilian court to order his payment.
The funds were reportedly paid following Santander's action to secure a favorable ruling to recover 350,000 Brazilian reals (approximately €62,780) associated with the unpaid debt.
In May, the bank initiated a legal procedure against Bolsonaro Jr. in connection with allegations of money laundering and document forgery, underlining the scrutiny surrounding his financial activities.
Prosecutors allege that Bolsonaro Jr. inflated the revenue of his event management company, Bolsonaro Jr. Eventos e Mídia, to obtain a larger loan from Santander.
The legal complications surrounding Bolsonaro Jr. became more pronounced when the bank sought to investigate his financial assets due to non-payment.
Santander's approach included multiple attempts in court to compel him to repay the debt, all of which were unsuccessful as he failed to respond to summons on three occasions in March, April, and May.
Local media reports highlight uncertainty regarding Bolsonaro Jr.'s ability to repay the €60,000, particularly after he began his role as a councilor in Balneário Camboriú—a city often referred to as the 'Brazilian Dubai'—with a monthly income of approximately €2,500.
Despite three months in office, reports suggest he has not been able to accumulate the funds necessary to settle his outstanding credit with Santander.
The legal representative of Bolsonaro Jr., Admar Gonzaga, criticized the public disclosures regarding the case, asserting that such leaks were detrimental to the integrity of the legal process and the presumption of innocence.
Gonzaga contended that Bolsonaro Jr. was a victim of an elaborate scam orchestrated by another individual.
The loan, which Bolsonaro had not repaid, led the bank to seek a judicial lien on his assets.
The bank filed a request for the embargo of Bolsonaro Jr.'s properties after he failed to repay the loan, prompting a Brazilian court to order his payment.
The funds were reportedly paid following Santander's action to secure a favorable ruling to recover 350,000 Brazilian reals (approximately €62,780) associated with the unpaid debt.
In May, the bank initiated a legal procedure against Bolsonaro Jr. in connection with allegations of money laundering and document forgery, underlining the scrutiny surrounding his financial activities.
Prosecutors allege that Bolsonaro Jr. inflated the revenue of his event management company, Bolsonaro Jr. Eventos e Mídia, to obtain a larger loan from Santander.
The legal complications surrounding Bolsonaro Jr. became more pronounced when the bank sought to investigate his financial assets due to non-payment.
Santander's approach included multiple attempts in court to compel him to repay the debt, all of which were unsuccessful as he failed to respond to summons on three occasions in March, April, and May.
Local media reports highlight uncertainty regarding Bolsonaro Jr.'s ability to repay the €60,000, particularly after he began his role as a councilor in Balneário Camboriú—a city often referred to as the 'Brazilian Dubai'—with a monthly income of approximately €2,500.
Despite three months in office, reports suggest he has not been able to accumulate the funds necessary to settle his outstanding credit with Santander.
The legal representative of Bolsonaro Jr., Admar Gonzaga, criticized the public disclosures regarding the case, asserting that such leaks were detrimental to the integrity of the legal process and the presumption of innocence.
Gonzaga contended that Bolsonaro Jr. was a victim of an elaborate scam orchestrated by another individual.
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