Brazil's Supreme Court revokes house arrest of BTG Pactual's Esteves

lunes 25 de abril de 2016 23:07 GYT

SAO PAULO, April 25 (Reuters) - Brazil's Supreme Court has revoked a house arrest order against billionaire financier Andre Esteves, the former chief executive of Banco BTG Pactual SA , Latin America's largest independent investment bank, local media reported on Monday.

Supreme Court Justice Teori Zavascki ended mobility restrictions on Esteves, paving the way for his return to BTG Pactual if he wished to do so, the online versions of Folha de S.Paulo newspaper and Exame magazine reported, both citing Esteves' lawyer, Antonio Carlos de Almeida Castro.

Reuters phone calls to Castro seeking comment late on Monday went unanswered. BTG Pactual had no comment.

Esteves was arrested in November and charged with obstructing a corruption probe at state-controlled oil company Petróleo Brasileiro SA.

He denied wrongdoing but stepped down as CEO and chairman of BTG Pactual days after his detention, passing control of the bank to seven partners.

Esteves spent three weeks in prison and was then placed under house arrest in December.

BTG Pactual suffered heavy losses while the probe progressed and the bank decided to sell stakes in some businesses to raise cash and guarantee liquidity. (Reporting by Marcelo Teixeira; Additional reporting by Guillermo Parra-Bernal; Editing by Christopher Cushing)