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Market Chatter: Banco Santander Executive Investigated by Brazil's Central Bank Over Fraud Allegations by Former Employer
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Banco Santander's executive, Alexsandro Broedel Lopes, is under investigation by Brazil's central bank for alleged fraud by his former employer, Itau Unibanco. Broedel, previously Itau's finance chief, is accused of fund siphoning via an external consultant. Santander reversed his appointment as chief accountant due to these allegations. Broedel denies the claims and seeks legal damages. Santander has not commented.
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