São Paulo Public Prosecutor’s Office ‘asks’ Federal Police to investigate Arena fund manager | OneFootball

São Paulo’s Public Prosecutor’s Office has asked the Federal Police to investigate possible irregularities at REAG/Arandu Investimentos, manager of the Fundo Arena for Neo Química Arena’s finances and debt. The request was sent on Tuesday, according to Blog do Macedo.

Promoter Cassio Roberto Conserino cites the firm’s role since 2022, when it centralised the fund’s administration and organised cash flows after the debt deal with Caixa.

The letter says large movements with low traceability could indicate money laundering, criminal organisation and offences in the financial system. As Caixa is a public bank, it argues a federal inquiry is needed.

The filing also cites Operação Carbono Oculto. In August 2025, REAG Investimentos was investigated over an alleged laundering scheme linked to the PCC, with estimated flows above R$ 52 billion.

Conserino wrote that the issues are potentially serious and suggest a potential systemic risk, adding that the focus is financial flows, fund governance and any criminal infiltration, not the club’s sporting or administrative management.

The PF has been asked for contracts on REAG’s entry to the fund, identities of administrators and beneficiaries, bank statements, checks on Corinthians default and Coaf alerts, and cross referencing with Operação Carbono Oculto.

The arena’s restructuring drew scrutiny after part of Corinthians’ Copa do Brasil prize money was frozen under the renegotiated stadium financing signed under Duilio Monteiro Alves.

Rádio Craque Neto reports talks began in October 2025 to remove REAG from the arena’s accounting administration, a change that would require Caixa’s approval.

Source: Meu Timao