Lula Detained During Brazil Police Raid Into Graft Scandal (4)
Friday,04/03/2016|14:52GMTby
Bloomberg News
Brazil’s former President Luiz Inacio Lula da Silva was detained for three hours after heavily armed police raided his...
Brazil’s former President Luiz Inacio Lula da Silva was detained for three hours after heavily armed police raided his home earlier today in a sweeping corruption probe that has targeted the nation’s elite and shaken Latin America’s largest country.
Lula was released from custody at Congonhas airport in Sao Paulo after questioning on Friday morning. Prosecutors say they have evidence that companies rewarded him with donations and speaking fees in return for government favors. The investigation is part of a probe known as Carwash into allegations that business executives bribed politicians for contracts at state-run oil company Petrobras.
Leaders of Lula’s Workers’ Party called on supporters to take to the streets to defend the former president and protect the current administration, led by his hand-picked successor Dilma Rousseff. Government critics called for protests Friday night and a mass demonstration on March 13 in favor of Rousseff’s impeachment. Crowds gathered outside Lula’s residence, with the two sides at times coming to blows.
Lula’s detention was arbitrary, illegal and unjustified, given that the former president had cooperated with the police inquiry, the Lula Institute said in a statement. The only result of Friday’s police action is "subjecting the former president to public embarrassment," it said. Lula is expected to hold a press conference at 2 p.m. local time in Sao Paulo.
Latest Twist
Friday’s detainment is the latest twist in the two-year Carwash probe. It may put on ice the career of Brazil’s most prominent politician in decades and is reviving a frenzied debate surrounding Rousseff’s future. Eurasia Group, the political consulting firm, said in a note that "Rousseff is now unlikely to finish her term in office," with the detention further polarizing Brazil with major demonstrations on both sides.
Equity and currency markets rallied, making the real the second-best performer Friday among major currencies tracked by Bloomberg. Investors speculate the scandal could bring down the administration and force an end to Brazil’s political turmoil. Lula’s legal troubles also eliminate any chance of him making a comeback and winning the presidency in 2018, said Andre Cesar, political analyst and founder of consulting firm Hold Assessoria Legislativa.
"The image of Lula being taken away means the end of him," Cesar said. "He’s no longer viable as a candidate."
The federal police said in a statement published earlier Friday on their website that they are carrying out 33 search and seizure warrants and 11 detention warrants to testify. No arrest warrant was issued.
‘Zombie Government’
A mentor to Rousseff who President Barack Obama once called the most popular politician on Earth, Lula in recent months had moved to the center of numerous investigations. Police have been probing allegations about his involvement in a scheme of Money Laundering from kickbacks and granting benefits to companies in Exchange for favors. Lula, 70, has repeatedly denied wrongdoing.
Lula himself escaped calls for impeachment over a decade ago after a cash-for-votes scandal that toppled his chief of staff and finance minister, leading to the imprisonment of key party leaders.
During the Rousseff administration, the arrest of business executives and leading Workers’ Party members have prompted scuffles and shouting matches in parliament. The former president’s troubles risk weakening Rousseff as she seeks to stem a contracting economy and fight off several attempts in Congress and in court to oust her. The president called an emergency meeting with her closest ministers to discuss Lula’s detention, newspaper Folha de S. Paulo reported.
"We’re talking about a zombie government that’s been dead for a long time, but this zombie is still walking around," said Claudio Couto, professor of political science at the Getulio Vargas Foundation in Sao Paulo.
(Updates with Lula press conference in fourth paragraph.)
--With assistance from Anna Edgerton Carla Simoes Gerson Freitas Jr. and David Biller To contact the reporters on this story: Raymond Colitt in Brasilia at rcolitt@bloomberg.net, Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net, Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net. To contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Randall Woods, Raymond Colitt
By: Raymond Colitt, Arnaldo Galvao and Mario Sergio Lima
Brazil’s former President Luiz Inacio Lula da Silva was detained for three hours after heavily armed police raided his home earlier today in a sweeping corruption probe that has targeted the nation’s elite and shaken Latin America’s largest country.
Lula was released from custody at Congonhas airport in Sao Paulo after questioning on Friday morning. Prosecutors say they have evidence that companies rewarded him with donations and speaking fees in return for government favors. The investigation is part of a probe known as Carwash into allegations that business executives bribed politicians for contracts at state-run oil company Petrobras.
Leaders of Lula’s Workers’ Party called on supporters to take to the streets to defend the former president and protect the current administration, led by his hand-picked successor Dilma Rousseff. Government critics called for protests Friday night and a mass demonstration on March 13 in favor of Rousseff’s impeachment. Crowds gathered outside Lula’s residence, with the two sides at times coming to blows.
Lula’s detention was arbitrary, illegal and unjustified, given that the former president had cooperated with the police inquiry, the Lula Institute said in a statement. The only result of Friday’s police action is "subjecting the former president to public embarrassment," it said. Lula is expected to hold a press conference at 2 p.m. local time in Sao Paulo.
Latest Twist
Friday’s detainment is the latest twist in the two-year Carwash probe. It may put on ice the career of Brazil’s most prominent politician in decades and is reviving a frenzied debate surrounding Rousseff’s future. Eurasia Group, the political consulting firm, said in a note that "Rousseff is now unlikely to finish her term in office," with the detention further polarizing Brazil with major demonstrations on both sides.
Equity and currency markets rallied, making the real the second-best performer Friday among major currencies tracked by Bloomberg. Investors speculate the scandal could bring down the administration and force an end to Brazil’s political turmoil. Lula’s legal troubles also eliminate any chance of him making a comeback and winning the presidency in 2018, said Andre Cesar, political analyst and founder of consulting firm Hold Assessoria Legislativa.
"The image of Lula being taken away means the end of him," Cesar said. "He’s no longer viable as a candidate."
The federal police said in a statement published earlier Friday on their website that they are carrying out 33 search and seizure warrants and 11 detention warrants to testify. No arrest warrant was issued.
‘Zombie Government’
A mentor to Rousseff who President Barack Obama once called the most popular politician on Earth, Lula in recent months had moved to the center of numerous investigations. Police have been probing allegations about his involvement in a scheme of Money Laundering from kickbacks and granting benefits to companies in Exchange for favors. Lula, 70, has repeatedly denied wrongdoing.
Lula himself escaped calls for impeachment over a decade ago after a cash-for-votes scandal that toppled his chief of staff and finance minister, leading to the imprisonment of key party leaders.
During the Rousseff administration, the arrest of business executives and leading Workers’ Party members have prompted scuffles and shouting matches in parliament. The former president’s troubles risk weakening Rousseff as she seeks to stem a contracting economy and fight off several attempts in Congress and in court to oust her. The president called an emergency meeting with her closest ministers to discuss Lula’s detention, newspaper Folha de S. Paulo reported.
"We’re talking about a zombie government that’s been dead for a long time, but this zombie is still walking around," said Claudio Couto, professor of political science at the Getulio Vargas Foundation in Sao Paulo.
(Updates with Lula press conference in fourth paragraph.)
--With assistance from Anna Edgerton Carla Simoes Gerson Freitas Jr. and David Biller To contact the reporters on this story: Raymond Colitt in Brasilia at rcolitt@bloomberg.net, Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net, Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net. To contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Randall Woods, Raymond Colitt
By: Raymond Colitt, Arnaldo Galvao and Mario Sergio Lima
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We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
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We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
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🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
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🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
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- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
