Federal Police Investigate R$14.2 Million Real Estate Deal Linked to Senator Ciro Nogueira
Brazil's Federal Police probe a R$14.2 million land deal connecting Senator Ciro Nogueira's family to a fugitive businessman tied to the Refit group in a wide-ranging corruption investigation.
- • The Polícia Federal investigates a R$14.2 million real estate transaction involving Senator Ciro Nogueira’s family company and a Refit-related firm.
- • Businessman Ricardo Magro, wanted for fraud and money laundering, is a key figure with an international arrest warrant.
- • The contract involves the purchase of 40 hectares in Teresina for a fuel distribution center, with payments ongoing since November 2024.
- • The investigation explores possible illicit benefits tied to Nogueira’s previous congressional actions and scrutinizes financial irregularities linked to the Refit group.
Key details
The Polícia Federal (PF) is investigating a significant R$14.2 million real estate contract involving Senator Ciro Nogueira's family business and a company connected to the Refit group, led by businessman Ricardo Magro. Magro is a fugitive wanted for fraud and money laundering with an arrest warrant issued by the Supreme Federal Court (STF) and is listed on Interpol's red notice.
The transaction pertains to the purchase of 40 hectares of land in Teresina intended for a fuel distribution center. The contract was signed in August 2024, with payments starting in November 2024, including an initial R$2.5 million deposit and monthly installments of R$300,000. To date, R$10.8 million has been paid, leaving R$3.4 million outstanding, according to Senator Nogueira, who confirmed the deal but denied any wrongdoing.
Authorities are scrutinizing whether the real estate operation was legitimate or served as a cover for illicit gains, especially considering Nogueira's legislative amendments potentially benefiting fuel sector companies. While Nogueira claimed his ownership in the family company was below 1% at the time, documents reveal he retained usufruct rights over shares and profits.
The inquiry forms part of Operação Sem Refino, targeting the Refit group, which owes approximately R$52 billion to the government and is suspected of engaging in tax fraud, money laundering, and corrupting public officials. The investigation also examines suspicious financial activities involving affiliated firms like Athena Real Estate and Eurovest S.A.
Due to the involvement of individuals with privileged legal status, the case falls under the jurisdiction of the Supreme Federal Court, with Minister Alexandre de Moraes overseeing proceedings. The PF is probing various economic crimes linked to the Refit group’s alleged fraudulent management and currency evasion.
This article was translated and synthesized from Brazilian sources, providing English-speaking readers with local perspectives.
