São Paulo Businessman Ordered to Return $28 Million to Brazil

On January 18, 2013, O Estado de São Paulo reported that Paulo Maluf, businessman and political boss in the São Paulo area, will have to return roughly $28 million that he was keeping offshore in Jersey, one of the Channel Islands between Britain and France.  Courts in Jersey announced the decision.  He also will have to pay $4.5 million in attorney fees, as the case was decided over a nine-year period.  In November, courts concluded that Maluf had used some of the businesses as well to divert public money for personal purposes, including a particular street project in São Paulo in the 1990s.  Read Article