Rio State Overstated Books by $225m on Failed Banco Master

BRAZIL · POLITICS Key Facts —The ruling: Rio de Janeiro’s state audit court rejected former Governor Cláudio Castro’s 2025 accounts by a 3-1 vote on June 1. —The core issue: Auditors found a R$1.13bn ($225m) overstatement of state assets, from a failure to provision for losses on the state pension fund’s exposure to Banco Master. […] The post Rio State Overstated Books by $225m on Failed Banco Master appeared first on The Rio Times .