São Paulo prosecutors examine alleged R$ 255.75 million overcharge on Corinthians arena debt | OneFootball

The São Paulo Public Prosecutor's Office is investigating whether Corinthians were improperly charged R$ 255.75 million by Caixa in relation to the Neo Química Arena financing.

According to Globo.com, prosecutors opened a preparatory administrative procedure after receiving a representation alleging a discrepancy in the debt calculations based on public data analysed by Anísio Costa Castelo Branco, who describes himself as a criminal forensics investigator.

Prosecutor Cássio Conserino has ordered a detailed expert examination of the arena debt maths. He said that if the differences are confirmed, it could amount to possible reckless management by officials who authorised payments. For now, the probe is non-criminal.

The representation states that when suing to collect the debt on 22 August 2019, Caixa put the amount at R$ 536.09 million, from a stated principal of R$ 423.94 million. It adds that the case files lacked transparent, step-by-step spreadsheets or calculation logs showing how the original R$ 400 million loan reached that balance.

Another contested point is the 10% contractual penalty, which the bank allegedly applied to the entire outstanding balance rather than only to overdue instalments. The filing also cites inconsistencies within the bank's own documents and presents a reconstructed calculation suggesting the true outstanding balance on that date would have been R$ 280.34 million, implying an overcharge.

Source: Globo.com

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