IRB Brasil settles DoJ fraud probe for $5mn over false statements
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IRB Brasil settles DoJ fraud probe for $5mn over false statements

Samuel Casey
April 25, 2023
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Brazilian reinsurer IRB Brasil Resseguros has agreed to pay $5mn in compensation to the US Department of Justice (DoJ) to resolve a fraud probe.

The DoJ was investigating a fraudulent scheme designed to prop up the reinsurer’s share price, in which the company falsely disclosed in February and March 2020 that Berkshire Hathaway was a shareholder.

The

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Samuel Casey
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