Pursuits
Brazil's Esteves Wins Release From Jail, Under House Arrest
- Former BTG leader must stay at home until he finds a job
- Lost his role as chairman and chief executive officer of BTG
Andre Esteves.
Photographer: Fernando Frazao/Agencia BrasilThis article is for subscribers only.
Andre Esteves, the billionaire founder of Grupo BTG Pactual SA, won his release from jail three weeks after being arrested in connection with a corruption probe in Brazil. BTG’s bonds and shares soared.
Esteves, who stepped down as BTG’s chairman and chief executive officer four days after his Nov. 25 arrest, must remain at home in Sao Paulo, said his lawyer, Antonio Carlos de Almeida Castro. The banker can’t have contact with other people involved in the investigation or employees of BTG, Castro said.