**Title:** Banco do Brasil Accuses Bolsonaro Allies of Spreading False Claims
**Meta Description:** Banco do Brasil alleges that allies of former President Bolsonaro are spreading misinformation to destabilize the bank and incite customer withdrawals.
**URL Slug:** banco-do-brasil-bolsonaro-allies-false-claims
**Headline:** Banco do Brasil Claims Bolsonaro Allies Are Spreading Misinformation to Undermine the Bank
Banco do Brasil SA has accused associates of former President Jair Bolsonaro of attempting to destabilize the state-owned bank by disseminating false information regarding its financial health and encouraging customers to withdraw their funds. In a formal complaint submitted to the attorney general’s office, the bank highlighted that Bolsonaro’s son, Eduardo, along with others, has been warning on social media that the bank could be banned from the global SWIFT payments system. Additionally, there were claims of a run on Banco do Brasil Americas, a U.S. subsidiary of the bank.
In a statement released on Friday, Banco do Brasil announced its intention to pursue “adequate legal measures” to safeguard its reputation, although it did not specifically reference the social media posts or the complaint to the attorney general. The bank emphasized its commitment to operating in full compliance with Brazilian law and adhering to regulations in over 20 countries where it operates, as well as international financial standards.
The complaint also pointed to a video posted by Eduardo Bolsonaro on his YouTube channel, which suggested that the bank would be cut off from international markets due to sanctions under the Magnitsky Act. This act allows the U.S. to target foreign officials accused of corruption and human rights violations. The bank’s complaint identified right-wing federal representative Gustavo Gayer and others as individuals spreading misinformation through their social media platforms.
In light of these developments, customers have sought clarification from the bank after encountering the misleading posts. Banco do Brasil expressed concern that such false claims could destabilize the Brazilian financial system by damaging the reputations of local banks. The complaint included examples of misleading posts from platforms like X, Threads, and YouTube.
As of Monday, Banco do Brasil’s shares had declined by 0.9% in São Paulo, trading at 20.32 reais. Many of the posts referenced a recent ruling by Supreme Court Justice Flavio Dino, which stated that judicial and executive orders from foreign governments must be approved in Brazil to be effective. This ruling followed U.S. sanctions against another Supreme Court justice, Alexandre de Moraes, due to his decisions against Bolsonaro in a trial related to an alleged coup attempt.
Banco do Brasil manages the payroll for the Supreme Court, and Eduardo Bolsonaro has suggested that maintaining Moraes’ account could make the bank a target for the Trump administration. Over the weekend, bank officials shared the statement released on Friday across their social media channels, including LinkedIn. Brazil’s Finance Minister Fernando Haddad commented that Banco do Brasil is facing attacks from Bolsonaro’s allies.
**FAQ Section:**
**Q: What actions is Banco do Brasil taking in response to the misinformation?**
A: Banco do Brasil plans to pursue legal measures to protect its reputation and has filed a complaint with the attorney general’s office regarding the false claims being spread by associates of former President Bolsonaro.
