Brazil prosecutors sue pension funds over investment losses
Brazilian authorities said on Tuesday they had filed lawsuits against 17 people and two companies over losses suffered when the Petrobras employee pension funds and the Caixa Economica Federal invested in a special fund without due diligence.
The lawsuit is seeking 219 million reais ($65.55 million) in compensation, which authorities said is three times the losses caused by the poor investments.
Petros did not immediately respond to a request for comment on the lawsuit. Caixa Economica’s pension fund Funcef declined to comment.
Read More: Reuters
