US charges Brazil's IRB Re former CFO Passos over false Berkshire investment tale
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US charges Brazil's IRB Re former CFO Passos over false Berkshire investment tale

Jairo Ibarra
April 18, 2022
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The US Department of Justice and the Securities and Exchange Commission have disclosed charges against IRB Brasil Resseguros’ former CFO Fernando Passos for devising a scheme to defraud investors by making it appear that Berkshire Hathaway was an IRB shareholder.

In a superseding indictment unsealed in the Southern District of Iowa, US authorities accused the executive of fraudulently “propping up” the reinsurer’s stock price by “spreading false information that Berkshire Hathaway had invested in IRB”.

The

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Jairo Ibarra
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