Legal System Working: Brazil's Top Leaders Caught In Kickback Scheme

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Mark Melin
Published on
Updated on
Brazil

At the ugliest of times is when a legal system in a democracy proves that it is working, which is the case in a kickback probe. In Brazil, a federal task force announced that it is investigating the country’s former president, Luiz Inacio Lula da Silva, in a corruption and kickback scheme that also bleed into the Petrobras scandal, one where U.S. institutional investors were recently significantly disadvantaged. Bridgewater Associates warned on this issue before the public bond offering, but their warnings were challenged by bank analysts.   Brazilian top prosecutor challenges ruling elite, says former president received “benefits” from…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.