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The upcoming accounting official in Santander is undergoing the criminal investigation in Brazil for the embezzlement of the alleged money while working as an executive official in the country’s largest bank.

The documents reviewed by the Financial Times showed that the Brazilian federal prosecutors this month ordered the police to launch investigations at Alexandro Brodel Lopez, the former financial manager of Ito Onbanko.

The Federal Public Prosecutor’s Office in Sao Paulo referred the case to the police after preliminary investigations into the alleged crime, the documents appear.

Accusations by ITAú are that Broedel personally benefited from the fees he paid to an external advisor that he rented on behalf of the bank while working there.

Broodel has not been accused of any crime, and the Brazilian federal police said that they had not confirmed or commented on the potential continuous investigations. The Federal Public Prosecutor’s Office said that the investigation could not be confirmed.

Broedel joined Santander In October, the position of senior accounting officials in the Spanish Group in the coming months – a role that makes him a member of the bank’s senior management team.

Santander said he had received the necessary approvals from the organizers. This includes passing the “proper and proper” test of the European Central Bank for senior managers.

The revelation comes from the investigation of the police after Eto’o, the largest bank in Brazil, through the total assets, filed civil lawsuits against BroEDEL and others in December andnaire submitted claims to deduct money similar to those in which the police are now investigating.

The bank also brought claims to the public prosecutor’s attention, according to the documents that FT saw.

After preliminary investigations, during which he heard representations of Broedel lawyers, the Prosecutor decided that an investigation into the police in the executive authority “to determine the facts”.

Santander said that Broadle was “great in the executives” was to take over the position of Cao later this year, “adding that he was” monitoring any developments. ” The Spanish lender previously said that BroEDEL will start as head of accounting in “early 2025”.

Broedel spokesman described allegations Itaú It is “unfounded and meaningless.”

The statement said: “Alexandro Brodel has always made himself morally and transparently in all his activities for 12 years in the bank,” the statement said.

According to the public prosecutor’s report, which he sent to the police, and the Civil Claiming Court deposited, ITAú claimed that BROEDEL discouraged the money from the bank through an arrangement with an external advisor that he rented on behalf of the lender.

ITAú claimed that Broedel eventually received 40 percent of the fees he paid to the advisor, after transferring the money through a series of entities. In total, it is claimed that BROEDEL has received $ 4.86 million ($ 834,000), according to the civil lawsuit.

She claimed that suitable records of 16 out of 40 decades could not be found with a consultant and claimed that they may be fake and that the work may not have been implemented.

It was also claimed that BROEDEL failed to submit a report to the ITAú internal compliance team that the external advisor was partners in a company called Broodel Consultores Associados, according to the documents.

In its report sent to the police, the Prosecutor said that Broud told her that the amounts he received from the consultant were loans.

However, the public prosecutor’s report asked why transportation operations were carried out through companies, not directly by the consultant, and why the relationship between the two men was not announced. The report also indicated the timing of payments, which raised questions about “the proximity of transfers regarding the banks’ payments.”

Broedel resigned from ITAú in July to take office at Santander and placed on the gardening leave by the Brazilian Bank. Etoow was later expelled after revealing the allegations against him, according to the civil lawsuit.

Santander’s Board of Directors appointed BroEDEL to the position of senior accounting officials last June, before these allegations appeared.

“The adviser mentioned by ITAú Unibanco was already providing bank services for decades, before Broedel was invited for a long time to join [Itaú’s] blackboard. The aforementioned services were known to ITAú Unibanco, which are required by different areas of the bank.

“It is extremely strange for ITAú Unibanco doubts about the alleged misconduct after Broedel resigned from his position in the bank to take over a global position in one of his main competitors.

A person close to Santander described the police as “a first stage to determine whether a criminal claim can occur,” adding that this does not mean that the prosecution will continue.

ITAú refused to comment.