Banco Master Suspect Threw Cash From Window as Police Arrived

Brazilian police were executing a warrant in their probe of troubled Banco Master SA on Wednesday when someone suddenly tossed a suitcase packed with more than 400,000 reais ($77,120) out of a 30th-floor apartment.

The scene unfolded in Balneario Camboriu, a hub of beachfront high-rises in the southern state of Santa Catarina, and marked the latest twist in the case of Banco Master, which was liquidated by the central bank in November and is facing accusations of fraud.

Federal Police officers were carrying out the latest phase of a probe into Rioprevidencia, a civil servant pension fund that invested nearly ...