December 1, 2016 / 10:07 AM / 2 years ago

Brazil's police launch raid targetting Itaú, TV says

SAO PAULO, Dec 1 (Reuters) - Brazil’s federal police have launched a raid targetting Itaú Unibanco Holding SA and the BankBoston operations it bought years ago, news channel Globonews said on Thursday.

According to Globonews, the raids are in connection with the so-called “Operação Zelotes,” which investigates the alleged involvement of banks and companies in the bribing of Brazilian tax Auditors to waive or reduce tax payments.

Spokespeople at Itaú were not immediately available for comment. (Reporting by Pedro Fonseca; Writing by Ana Mano; Editing by Toby Chopra)

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