Brazil’s federal police conducted search and seizure warrants on Rio de Janeiro’s pension fund in connection to the collapse of Banco Master. The investigation involves 970 million reais in financial bills from a private bank. The closure of Banco Master triggered a large payout from Brazil’s private deposit guarantee fund. Rio de Janeiro’s pension fund claims protection under a court ruling to safeguard retirement assets. The fund expects full repayment within two years and asserts compliance with regulations.

Read more at Yahoo Finance: Brazil police target Rio pension fund in probe linked to Banco Master, sources say