Banpará is a Brazilian regional bank, founded in 1959 by the Pará state government. Its primary activity is supporting the banking needs of the state government and its employees’.

Controversies

The bank was the centerpoint of a 1984 scandal which saw over 10 million dollars siphoned away from its coffers into bank accounts controlled by the then-governor,

Jader Barbalho Jader Fontenelle Barbalho (born 27 October 1944) is a Brazilian politician, businessman and landowner from the state of Pará. He is currently a member of the PMDB party and a Senator for Pará. He is the father of Hélder Barbalho, former may ...

, and his associates. The accusation involved the CEO, a political ally of Barbalho, and the financial director, both banned from working in the financial sector for 10 and 3 years, respectively.

References

Brazilian companies established in 1959 Companies based in Belém (Pará) Government-owned banks of Brazil Banks established in 1959 {{Brazil-econ-stub