SAO PAULO, April 19 Brazil's federal police said
they had launched raids on Wednesday as part of an investigation
into the allegedly fraudulent purchase of shares of Banco
Panamericano SA by Caixa Participações SA, parent company of
national savings bank Caixa Econômica Federal.
The investigation will seek to determine whether Caixa
Econômica Federal managers committed a fraud which may have
caused losses to clients of the bank, the police said in a
The federal court which authorized the raids also froze 1.5
billion reais ($483 million) of assets belonging to the targets
of the probe, the police said.
($1 = 3.1070 reais)
(Reporting by Ana Mano)