Former Itau CFO Accused of Fraud Has Sao Paulo House Seized (1)

Former Itau Unibanco Holding SA Chief Financial Officer Alexsandro Broedel Lopes, accused of fraud by the Brazilian bank, had his house seized by a judge in Sao Paulo, according to documents seen by Bloomberg.

Broedel, who’s now a senior vice president at Banco Santander SA in Madrid, was trying to sell the house, Itau said in a lawsuit, adding that the executive may need it to pay a 3.35 million-real ($574,000) indemnification the lender is asking for.

Judge Larissa Gaspar Tunala agreed, and blocked the sale in an emergency decision. Under Brazilian law, such property seizures can usually only ...