Wealth of 2014 Presidential Candidate Aécio Neves has Tripled Since Election

03/13/2018 - 07h57

Property and assets declared by Senator Aécio Neves (PSDB-MG Party) have tripled in value since the election of 2014, reported Reynaldo Turollo Jr. and Rubens Valente. According to documents filed with the Federal Revenue Service, the value jumped from R$ 2.5 million (US$ 767 thousand) in 2015 to R$ 8 million (US$ 2.45 million) in 2016.

The increase is the result of the sale of ownership shares that he held in a radio station, Arco Íris. He had been a partner for six years.

In 2014, Aécio, at that time a Presidential candidate, had declared the value of his ownership in the broadcaster, a Jovem Pan network affiliate, at R$ 700 thousand (US$ 215 thousand). In September 2016, the senator decided to sell the shares to his sister Andrea.

	Pedro Ladeira/Folhapress
	Senator Aécio Neves (PSDB-MG Party)

In the sale operation, he declared to Fisco that the shares were worth R$ 6.6 million (US$ 2.02 million), or nearly ten times more than one year earlier.

The lifting of his financial confidentiality had previously been ordered by the Federal Supreme Court in a parallel precautionary proceeding as part of an investigation into Aécio's activities related to a request he made for R$ 2 million (US$ 614 thousand) from Joesley Batista, owner of JBS Corporation.

The Senator's leaving the radio station's ownership coincides with growing questions regarding the legality of TV and radio broadcast properties owned by federal parliamentarians. For the Federal Justice Department, their ownership infringes on the Constitution.

Aécio's defense has stated that the R$ 6.6 million (US$ 2.02 million) was calculated based on market values at the time of sale.

Translated by LLOYD HARDER

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