Joseph Safra of J. Safra Sarasin private bank is facing allegations of having known about attempts to bribe tax officials in Brazil. Safra Group denies the allegations.
Joseph Safra is being accused of having known that employees of Safra Group offered bribes amounting to $4.2 million to tax officials in exchange for a lower tax bill, according to a report by «Reuters» news agency.
Investigators in Brazil are making the claim after secretly listening to conversations between João Inácio Puga, a manager at Banco Safra, and tax officials. The discussions seem to have shown that Safra, a billionaire, wasn't part of the bribery attempt but knew about it.
Safra Group Denial
Safra Group denies the allegations, calling them baseless, adding that there were no irregularities at the holding company.
Joseph Safra is one of Brazil's most powerful businessman and the country's second richest, with assets worth more than $18 billion. He controls several banks, including Switzerland's J. Safra Sarasin, a private bank.
«Operation Zealots»
Brazil is dogged by corruption scandals, including one involving Petrobras, with Swiss banks playing their part. President Dilma Rousseff is facing ever louder calls for her resignation.
The claims against Safra are part of «Operation Zealots». The investigations have already exposed dozens of companies avoiding payments or receiving money back from lobbyists in the form of kickbacks.
