By Anthony Boadle and Stephen Eisenhammer:
A Brazilian prosecutor has opened a criminal investigation into investments made by two state pension funds in a luxury Rio de Janeiro hotel that is part of the Trump franchise, according to a court filing reviewed by Reuters on Tuesday.
The 130 million reais ($40 million) investment by the two small funds in the hotel's developer "required investigation" due to its size, structure and high level of risk, Anselmo Lopes, a federal prosecutor in Brasilia, said in the document dated Oct. 21 that opened the inquiry.
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The Trump Hotel Rio de Janeiro, a beachfront property with 170 rooms near where the Olympic Park was located, is managed by the real estate company of Republican presidential candidate Donald Trump, although no money from the Trump Organization was invested in the project.
Prosecutor Lopes last week also said the Trump Organization may have benefited "suspiciously" from a massive redevelopment of Rio de Janeiro's port, where it plans to build a series of office towers. Lopes provided no proof of his suspicions, and did not elaborate on what he meant.
The Full Story (November 2, 2016)
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