BTG Targeted by Brazil Police Over Alleged Key Rate Leaks (2)

Banco BTG Pactual SA is being targeted by a new Brazil police probe over alleged leaks of central bank monetary policy decisions. Shares plunged.

A fund linked to the bank allegedly received information on central bank key rate decisions ahead of their official releases between 2010 and 2012, reaping millions of reais in profits, prosecutors said in a statement Oct. 3. Police were searching BTG’s Sao Paulo headquarters.

BTG said it had no decision power or participation in the fund, and acted simply as a trustee, according to a separate statement. The fund that’s being investigated, Bintang Fundo de Investimento ...