Banco de Brasília (BRB) has agreed a settlement with São Luís municipal attorney Daniel de Faria Jerônimo Leite under which he will return shares worth BRL90.5mn in exchange for the dismissal of legal action against him, according to court filings and documents disclosed in April.

The agreement, submitted on April 20 and still awaiting judicial approval, would transfer the shares back to BRB and have them recorded as treasury stock, Valor reported.

The Federal District Public Prosecutor’s Office issued a favourable opinion on June 3 supporting the arrangement.

Leite was identified in an independent investigation commissioned by BRB and carried out by Machado Meyer and Kroll. He bought the shares during a 2025 capital increase, with court records indicating they were valued at about BRL64.7mn when frozen by a Federal District court order.

BRB’s lawsuit forms part of broader litigation involving 15 individuals and entities linked to what the bank describes as transactions associated with the “Reag/Master ecosystem”.

The bank alleges that investment funds connected to Banco Master acquired BRB shares using structures that later enabled BRB to purchase credit portfolios from Banco Master.