New reports increase pressure on Casares and São Paulo | OneFootball

New documents included in the Civil Police investigation have added relevant elements to the inquiry that is examining suspicious financial transactions involving São Paulo FC and the club's president, Julio Casares.

According to a report published by UOL, in a statement sent to the Financial Activities Control Council (Coaf), Bradesco bank presented information that contradicts the club executive’s defense regarding cash deposits made into his personal account.

According to the bank, Casares himself indicated São Paulo FC as the source of cash payments received in addition to his salary, information that diverges from the publicly stated argument that the amounts came from personal reserves kept in cash over time.

The bank’s observation refers to the first of three periods analyzed in Casares’s account, between January and March 2023, when R$ 476,400 in cash deposits were recorded. One of the justifications presented to Bradesco was that the amounts were related to “funds received in cash from São Paulo FC as championship bonuses,” an explanation which, according to the report, “clashes with standard corporate governance practices.”

There is no detail as to whether this justification covered all the deposits in the period or only part of them. The bank stated it would not comment on the case.

Another point highlighted by Coaf was the splitting of transactions. On October 4, 2023, ten days after winning the Copa do Brasil, twelve cash deposits were made, all below R$ 2,000, totaling R$ 19,100. This amount is relevant because R$ 2,000 is the threshold above which the depositor must be identified.

Also during this period, R$ 99,800 in deposits were made through 62 small transactions at ATMs. In total, the police are investigating R$ 1.5 million in cash deposited into Julio Casares’s accounts between January 2023 and May 2025.

The defense reiterated that none of these amounts are related to the club and claims it will prove the legal origin of the funds, but is still awaiting full access to the case files, which are under judicial secrecy.

Meanwhile, the investigation into the R$ 11 million withdrawn from São Paulo FC’s accounts between 2021 and 2025 has progressed. According to GE.com, the club has been ordered to present, within fifteen days, documents proving the destination of the funds. The law firm responsible for São Paulo FC’s defense has hired an expert to gather invoices and receipts.

In a document presented to the Deliberative Council, Casares stated that the funds were used for operational expenses of matches and for paying bonuses to athletes. The first withdrawals were made by a club employee; later, a cash transport company was used, a move that the investigation considers a possible way to hinder the identification of those involved.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.