Will the sentencing of Brazil's fallen hero be the start of a new era?
FROM 2003 to 2010, Luiz Inácio Lula da Silva was the most powerful man in Latin America. He was the highly popular president of Brazil. Now, he faces the prospect of a decade in prison.
Lula has been found guilty of corruption charges and sentenced to nine-and-a-half years behind bars. He is out on bail pending an appeal. He calls the case against him "a farce" that is politically motivated. He has been accused of accepting more than US$1.1 million in gifts from a construction company to make improvements to his beachfront apartment.
Lula's protégé and successor as president, Dilma Rousseff, was impeached last August on allegations of misrepresenting the national budget numbers. No corruption charges have been filed against her. Her successor, current president Michel Temer, has been formally charged with corruption, which he denies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access