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Rio Times

BusinessRio Times·Jul 29, 2026·1 min read

Brazil Regulator Fines Ex-IRB CFO for Fake Berkshire Claim

Brazil · Markets Key Facts —The lie. Former IRB CFO Fernando Passos planted a false story in 2020 that Berkshire Hathaway had taken a stake in the Brazilian reinsurer. —The penalty. The CVM fined Passos the maximum administrative penalty…

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