Brazil’s Tanure Accused by Prosecutor of Insider Transactions
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Brazilian prosecutors filed charges against businessman Nelson Tanure for using inside information in financial transactions that involved real estate developer Gafisa SA.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Brazilian prosecutors filed charges against businessman Nelson Tanure for using inside information in financial transactions that involved real estate developer Gafisa SA.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Tanure, a former board member at Gafisa, worked with the controller of another company, Upcon, in 2019 and 2020 to financially benefit from a transaction between the companies, Estadão reported, citing investigations by the Public Prosecutor’s Office.In a statement, Tanure’s lawyers denied wrongdoing and said the facts would be cleared up in the legal process. Prosecutors must present their case to a federal judge, who would decide whether to accept the charges, Estadão said.Tanure is one of Brazil’s highest-profile investors, known for opportunistic plays in distressed and restructuring situations, from telecommunications operator Oi SA to power utility Light SA. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Earlier this year he made a bid to acquire a controlling stake in Braskem SA, Latin America’s largest petrochemical company, though the discussions fell apart.He has a health business, Alliança Saúde e Participacões SA, and infrastructure investments such as Emae, São Paulo’s metropolitan water and energy utility. His portfolio also includes significant equity positions in energy and oil companies, including Light and PRIO SA.In the statement, Tanure’s lawyers said he’s never been accused of any criminal act associated with a company where he was a shareholder. His actions have been scrutinized by regulators in the past, including a high-profile case related to waste-management firm Ambipar Participacões e Empreendimentos SA. The securities regulator ultimately didn’t pursue any action against him in that case.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2025 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.