But it gets worse. Edemar, usng phony accounting and dirty cash, insinuated himself into Brazil’s cultural elite, bankrolling big art shows and expositions, to make himself look legit and upstanding. The truth is, according to somebody I know who was deeply involved in the investigation, he was stealing deposits and instead of buying financial assets, was buying art. Most of the art has never been recovered because, well, you can get people to paint fake replicas of the stuff you own to hand over to the police, or just roll up paintings, stick them in a suitcase and, voila, a traceless crime.
So, I ask you, how much of owner Allen Stanford’s $1 billion in personal wealth was really just, hum-hum, taken from Stanford Bank’s supposed $8 billion in assets? And was the $100 million odd slush fund for garish cricket matches, and a polo-focused lifestyle, financed by him or depositors? Just askin’. Edemar and Allen have something in common, ya see, an obsession with the high-brow life and the desire to appear respectable that just doesn’t fit with garbage accounting, murky management and fast money.
Lime Slime’s Brazil: “We really are a racial democracy…… really!”
At last, intelligent comment on Brazil at IKN