Brazilian federal police served
100 search-and-seizure warrants on Thursday as part of an
investigation into alleged graft involving a pension fund for
post office workers.

A police statement did not name any targets of the
investigation, but said they included managers at the Postalis
fund, executives at a foreign financial institution, listed
companies and risk-assessment firms.

Postalis, which came under federal management last year due
to alleged fraud, suffered losses worth 6 billion reais ($1.9
billion) as a result of embezzlement, the statement said,
forcing post office workers to increase their retirement
savings.

Postalis representatives did not immediately respond to a
request for comment.

($1 = 3.1858 reais)