Brazilian Real Surges After Ex-President Lula Found Guilty Of Corruption, Faces 9 Years In Prison

Tyler Durden's picture

Just hours after current President Temer garnered enough votes necessary to block congressional motion that would put him on trial over corruption charges, Reuters reports that former President Lula has been found guilty of on corruption charges and faces 9 years in prison.

Earlier today, Bloomberg reported that Brazil President Michel Temer has more than the 172 votes necessary to block congressional motion that would put him on trial over corruption charges, according to Bloomberg tally of voter intentions. Tally based on interviews with party leaders, legislators and presidential aides is larger if divided allied parties such as DEM and PSDB are included. The motion expected to be voted in lower house committee, floor this week. Govt sees 39-41 of committee’s 66 members against trial.

Which is no all the more fascinating as Brazil’s former president Luiz Inacio Lula da Silva was just sentenced to over 9 years in prison on corruption charges, according to Estado de S. Paulo newspaper. Lula was found guilty by Judge Sergio Moro on charges of money laundering, and bribe taking, Estado reports.

And the Real is jubilant...

As Bloomberg details,  Brazil’s former President Luiz Inacio Lula da Silva has been convicted of bribe-taking and money-laundering in the most dramatic development to date of a sweeping corruption scandal that has shaken the country’s political establishment to its core.

Sergio Moro, the lead judge in the multi-billion dollar corruption probe known as Carwash, sentenced Lula to nine and a half years, according to a statement from the federal court in Parana.

The guilty verdict on Lula, one of the most popular presidents in Brazilian history, weakens his chances of leading the Workers’ Party back into power in the 2018 elections. Over the past few months he has consolidated his position in opinion polls as the front-runner for the presidential race, but he will become ineligible if his sentence is upheld on appeal. The conviction of the left-wing leader also ratchets up yet further the political tension in Brasilia, coming as President Michel Temer faces corruption charges of his own.

A political firestorm broke last year when police raided his home and briefly detained him for questioning, prompting scuffles in the street between supporters and critics. He was later charged with corruption and money laundering. In May a face-to-face encounter with Moro at his courtroom in Curitiba drew tens of thousands of the former-president’s followers to the southern city.

After two terms in office Lula left the presidency in January 2011 with a record-high approval rating after tapping into a commodity boom to pull millions of Brazilians out of poverty.

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Looney's picture

 

President Lula has been found guilty of corruption and faces 9 years in prison

Meanwhile, Hillary is shaving her cankles and giggling…   ;-)

Looney

Blue Balls's picture

Muduro is still breathing.

American Psycho's picture

and Chazev's daughter is still flying private whist counting her $4.2 billion.

PontifexMaximus's picture

And helping elliot's paul singer with a strap on, to be in the first place of allotment, when maduro land's bond are in defaiult

Stuck on Zero's picture

Lula down, 100 world leaders to go.

ACP's picture

This mutherfucker gets 9 years in one of the most corrupt countries in the world and we cant even put away a shitbird run of the mill governmemt employee.

I guess that means the US is officially more corrupt than Brazil.

And why the hell is Sessions sitting on his fucking ass??

ACP's picture

This mutherfucker gets 9 years in one of the most corrupt countries in the world and we cant even put away a shitbird run of the mill governmemt employee.

I guess that means tge US is officially more corrupt than Brazil.

halcyon's picture

How does conviction of Lula help Brazil, when Temer (the acting president) is still under corruption investigation?

Conviction of Lula was expected and required, but Brazil is NOT out of the woods yet.

 

aloha_snakbar's picture

Wow... a country that is arguably 100 times more corrupt that the US actually making their elected officials answer for their crimes..not even sure what that says about the United Republic of Bananastan / US...

Long Latin Ho's and rubber....

HillaryOdor's picture

Some other criminal regime will take power instead.  It's not real justice.  It's not like they are more free now than before.

Hans-Zandvliet's picture

Sorry to disappoint you, but no government can be more corrupt than the on in Washington, because they have bought all their vassal governments and Brazil is now one of them.

After the coup agains Dilma Rousseff, the fascist puppets from Washington took over and now they are bussy to destroy Brazil's most popular former president. This is just a kangeroo court to avoid Lula from winning the next elections and be president again.

Temple of Truth's picture

Lula, Dilma and Temer are deeply corrupt neoliberal commies belonging to the same coalition. They should all be in jail along with 90% of the brazilian congress.

Now things will get really interesting when "right wing extremist" Jair Bolsonaro wins the 2018 election. He is conservative and not corrupt and might try to fix a few things, but will probably get blocked in some way.

Cordeezy's picture

The Current president is corrupt too though, so the Real likes the current corrupt president better than the last one?  Or this just signals some form of certainty and it doesnt care about the corruption?

 

www.escapeamazon.com

gdpetti's picture

Yes.... it's just the usual 'pump and dump' routine we all know and love/hate. The current regime of Temer now has the pleasure of enjoying all the criminal investigation that will ensue over coming months... one that will most likely ensure that Congress changes their position on congressional investigation.... the only 'out' is for him to 'retire to spend more time with the family'... but the investigation goes on.... and on.... as per his choice... and that of the Congress that setup this regime. Or, in other words.. Congress just 'kicked the can down the road'.

Jambo Mambo Bill's picture

Respect for them for trying to clean house, specially when the majority of politicians are corrupt.

The US needs a revolution to get rid of rampant corruption as well... but not sure if folks would have the stomach for it

Dilluminati's picture

Lock him up!

Lock him up!

Lock him up!

da cocksucker

rmopf2010's picture

 

 

Where is "Escrava Isaura" ? did anybody seen a recent comment from "her" ?

I always said it was somebody connected to PT in Brazil!

Now she might be in Jail, and spares us from her socialism/commie stuff LMAO

 

 

smacker's picture

I don't know what her game was but I noticed her sudden disappearance.

Sadly, she is rather typical of so many Brazilians: Left or Far-Left. Most Brazucas have yet to learn about free market capitalism and as a result they support either communism/socialism or socialist corporatism/fascism. Either way, it ends up with massive corruption.

Escrava Isaura's picture

Go easy there cowboys. It’s summer. Have other priorities.

Anyway, if they put all the corrupted Brazilian politicians in jail the nation will be left with one or two politicians to run it…. If that.

smacker's picture

True. Heere's one Brazilian wrote to me two hours ago about Lula's prison sentence:

  • "Vai não ele vai ficar em casa na prisão tomando whisky cheirando um  pó maconha e comendo do bom do melhor e rindo dos brasileiros"
Too-Big-to-Bail's picture

Pick any Brazilian Politician and if the investigating body looked into it in a judicious manner they would almost always find corruption -- A shame since it's such a beautiful country with so much potential

smacker's picture

"A shame since it's such a beautiful country with so much potential"

True, but there's this truism: "O Brasil, o país do futuro e sempre será"

Kat Daddy's picture

All governments are corrupt, 'tis the nature of the beast.  That is why government must remain small despite is reavenous appetiite to consume everthing in the life of the citizenry.

malek's picture

That's a great day for justice in Brasil!

Or at least that's what the Temer fanbois are trying to make us believe...

smacker's picture

Well, I couldn't wish 9 years in the slammer on a more deserving person.

Whatever level his popularity reached, truth is that he set Brazil on the course of spending huge tax revenues from commodity sales on social handouts to buy votes. A whole new FSA. The nation's infrastructure remains in a poor state, protectionism is out of control and corruption is rampant.

whatswhat1@yahoo.com's picture

AMATEUR CORRUPTION = BRAZIL

MASTERS OF CORRUPTION = USSA

Too-Big-to-Bail's picture

Exactly, the amateurs get caught and go to jail, while the masters expertly sweep it under the carpet or have most of their population so well brainwashed to not even see the corruption.

Publicus's picture

Coup in 3..2..1..