BRB (Bank of Brasilia) distributed VIP tickets to politicians, businessmen and customers to attend the F1 GP in São Paulo on Sunday (9th). One of the winners was Antonio Rueda, President of the Federal District of Brazil and a friend of Paulo Enrique Costa, President of a public bank belonging to the Federal Regional Government.
The public bank bought tickets for the F1 paddock club. This guaranteed access to the most luxurious areas of the race track and a privileged view of the track.
In response to inquiries from the panel, the BRB did not disclose the amount spent, the number of tickets purchased, the people who benefited, or the criteria used to select them. In October, the bank removed all public contracts from its website following the bank’s report. sheet Concerning the employment of a law firm to assess BRB’s potential losses in negotiations with Banco Master.
Meanwhile, Rueda said the invitation had nothing to do with party activities and was a common courtesy. He said the tickets arrived through the BRB affiliate area and were addressed to him and his wife Flor. This is because they are both customers of the bank and companies of the bank.
He added, “There was no direct request to the bank’s president nor any transactions with institutional investors.”
According to a report in the newspaper O Estado de S.Paulo, BRB spent 3.2 million reais to buy box tickets for the 2024 F1 Grand Prix in São Paulo, and that the amount was published in the DF official gazette two days before the race. The panel asked the bank to provide the contract, or at least an extract of the contract, published by the bank last year, but did not receive a response.
“Key customers and employees who have won awards in internal incentive campaigns were invited,” the bank said in a memo, adding that the bank’s relationship activities “are aimed at strengthening its brand, promoting its business, promoting its products and expanding its relationships with customers.”
Paddock Club packages cost up to R$50,000 over the three days of the event for those who purchased through the F1 website, according to a UOL report.
Rueda, Costa’s closeness with Governor Ibanez Rocha (MDB) became public earlier this year. At this time, União Brasil chairman was appointed as one of the people responsible for bringing BRB and Emede Vista to Master’s owner, Daniel Volcaro, in negotiations to take over a private bank in a public offering. After the central bank’s refusal, business should no longer take off.
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