FT : Brazil arrests five military and police officers over alleged plot to kill

Brazil arrests five military and police officers over alleged plot to kill Lula
Federal police say group had eyed killings of then president-elect along with his deputy and a supreme court judge

Brazilian police arrested five people, including military personnel, accused of planning a coup d'état and plot to kill President Luiz Inácio Lula da Silva, his deputy and a top judge shortly before the leftwinger assumed power.

The alleged conspiracy targeted the then president-elect and his running mate, Geraldo Alckmin, and was to be carried out on December 15 2022, federal police in the capital Brasília said on Tuesday.

It also involved a plan to kidnap and possibly execute supreme court justice Alexandre de Moraes, who had been placed under surveillance by the men, according to a document from the court granting arrest warrants. 

“Investigations indicate that the criminal organisation used a high level of technical military knowledge to plan, co-ordinate and execute illegal actions in the months of November and December 2022,” said police. 

The plan aimed to prevent Lula taking office at the start of last year following his October 2022 election victory over incumbent president Jair Bolsonaro, but was aborted by the plotters before being put into action, the judicial document said.

Of the five people arrested, four were military officers — including a reserve army general — and one was from the federal police, Brazil’s equivalent of the FBI. Most of those investigated had special forces training, the police added.

The arrests mark a significant development in ongoing investigations into alleged attempts to illegally reverse the election of Lula, who previously ruled for two terms between 2003 to 2011. 

Police say the suspects considered poisoning the president-elect as part of a detailed plan codenamed “Green Yellow Dagger”, an apparent reference to Brazil’s national colours. 

They approved the intrigue in a meeting at the house of Bolsonaro’s defeated running mate, retired general and former defence minister Walter Braga Netto, the supreme court document said. The group allegedly planned to institute a “crisis cabinet” following the coup, led by a retired army general and Braga Netto. He did not respond to a request for comment.

Earlier this year investigators released documents alleging that military officers and political allies of Bolsonaro, a former army captain, developed a detailed scheme to prevent a handover of power. Bolsonaro is a subject of the wide-ranging investigations. He denies any wrongdoing.

In the end no coup took place in Latin America’s most populous nation. But days after Lula’s inauguration last year, thousands of radical Bolsonaro supporters ransacked government buildings in Brasília on January 8 2023 calling for military intervention to overturn the election result, which they claimed without evidence had been rigged.

More than 260 of the rioters have been convicted, with many serving custodial sentences. 

De Moraes, the supreme court justice, has become a hate figure for the country’s far-right movement, at the same time as the court itself has been accused by critics of overstepping its powers. Last week a man died after detonating two explosives outside Brazil’s supreme court building.

The five people arrested over the alleged assassination plot were Hélio Ferreira Lima, Mario Fernandes, Rafael Martins de Oliveira, Rodrigo Bezerra Azevedo, all former or serving members of the military, and Wladimir Matos Soares, a federal police agent. All remained in custody on Tuesday afternoon.

Police said the possible crimes under investigation were violent abolition of the democratic state of law, coup d’état and criminal organisation.

Agents also executed three search and seizure warrants, as well as 15 other precautionary measures.

FT : Swiss prosecutors accuse Trafigura of paying €5mn in bribes to Angolan offi

Swiss prosecutors accuse Trafigura of paying €5mn in bribes to Angolan official
Unsealed indictment alleges the company’s late founder, Claude Dauphin, masterminded the scheme

Trafigura paid nearly €5mn in bribes to an Angolan official through an intermediary who was dubbed “Mr Non-Compliant” by the commodity trader’s founder, Claude Dauphin, Swiss prosecutors have alleged.

The Swiss indictment accuses Trafigura Beheer BV, the former parent company of Trafigura Group, of failing to prevent acts of serious corruption between 2009 and 2011. It also accuses Trafigura’s former chief operating officer, Mike Wainwright, who retired earlier this year, of bribery. 

The Swiss federal prosecutor announced the charges against Wainwright and Trafigura Beheer BV last year, but details were withheld until now, as is customary in Swiss legal proceedings. 

Dauphin, who died of cancer in 2015, was for decades one of the most powerful figures in the global trade in raw materials. The indictment marks the first time he has been named by prosecutors as having masterminded the alleged scheme. 

While numerous cases of bribery, corruption and money laundering have been brought by enforcement authorities against major commodity trading firms in countries across the world in recent years, none have so far directly implicated those at the very top of such organisations.

The 150-page indictment, a copy of which was unsealed on Monday and obtained by the Financial Times, alleges that some of Trafigura’s most senior executives were intimately involved in a criminal conspiracy to win lucrative government contracts in Angola by corrupting a public official between 2009 and 2011. 

The trial is set to open on December 2 in Switzerland’s central criminal court in Bellinzona. 

The indictment said that €4.3mn was paid into bank accounts in Geneva opened in the name of the Angolan civil servant Paulo Gouveia Junior and a further $604,000 in cash was handed to him in Angola. The contents of the indictment were first reported by Bloomberg.

In a statement, Trafigura defended its measures to prevent corruption and said it intended to fight the allegations in court.

“TBBV’s [Trafigura Beheer’s] anti-bribery and anti-corruption controls and compliance programme in place at the relevant time have been externally reviewed and assessed to have met legal requirements and international good practice standards applicable at that time,” the company said.

Gouveia was at the time of the alleged crime the chief executive officer of Sonangol Distribuidora, a subsidiary of Angola’s state-owned oil company Sonangol, which is responsible for marketing and shipping the African nation’s petroleum products.

Gouveia travelled to Geneva on April 7, 2008, the case states, and bills show his overnight stay in the luxury Four Seasons Hôtel des Bergues was charged to Trafigura, the indictment said.

Instructions to the bank Crédit Agricole to designate him as the beneficiary of a Virgin Islands-domiciled corporate shell, into which Trafigura had begun to siphon money, were sent on Trafigura-headed letter paper, the indictment alleges.

Gouveia would go on to sign multiyear chartering contracts between Angolan state entities and Trafigura worth $143.7mn in profits for the trading house, according to the prosecutors.

Gouveia’s lawyer declined to comment on behalf of his client.

Swiss prosecutors said the whole scheme was managed from the very top of Trafigura and that the official was even invited to Dauphin’s Geneva home for dinner. Wainwright played a key role in organising the payments, putting his signature to documents involved, according to the indictment.

The transactions were complex, multi-staged, and run through another person, who was a former employee of Trafigura. The person, whose name has been kept anonymous according to Swiss reporting restrictions, ran a consultancy in Switzerland that had Trafigura as its only client.

The prosecutor’s indictment cites an audio file obtained from a mobile phone in which Dauphin is said to refer to the individual as “Mr Non-Compliant” because he could do things which were not internally permissible at Trafigura.

Daniel Kinzer and Yoann Lambert, lawyers for Wainwright, said their client “entirely rejects” the allegations against him.

“We will be presenting a robust defence. [Wainwright] has full confidence the court will find the allegations to be unfounded and will dismiss the case made against him by the prosecution,” they said.

CrunchBase : 5 New Unicorns Join The Board And 5 Exit In October

5 New Unicorns Join The Board And 5 Exit In October
Five companies joined The Crunchbase Unicorn Board in October 2024, across sectors spanning AI, energy, robotics, fintech and professional services. These five added over $7 billion in value to the board, which now hosts more than 1,550 companies collectively valued at $5.3 trillion.

Four of the new unicorns are from the Bay Area, while the other is headquartered in London but operates in Africa.

In addition, five companies, last valued at $12.5 billion jointly, exited the board in October. These five exited unicorns were higher in value than the total value added from the newly minted unicorns.

However, the overall value of the board grew as OpenAI raised the largest round this year, $6.6 billion, boosting its value from $80 billion in February to $157 billion in its most recent funding. And AI companies Sierra and Lightmatter raised funding within a year of prior fundings at significant markups from those earlier fundings.

So far this year, 32 companies have exited the board, with half going public and half being acquired. That is already above the totals in 2023, when 25 companies exited, including 12 acquired and 13 that listed.

Exits in transportation and healthcare
Three companies from China went public last month, including two in autonomous driving. Horizon Robotics went public on the Hong Kong stock exchange, raising $696 million, and WeRide raised $440.5 million in a Nasdaq listing. China-based short-distance courier provider BingEx, branded as FlashEX, also went public on Nasdaq, raising $66 million.

Meanwhile, two U.S.-based healthcare companies were acquired last month. Both focus on managing in-home ongoing care. Carebridge, a Nashville, Tennessee-based home health provider for medicare and medicaid patients, was acquired for $2.7 billion by Elevance Health, a public health company based in Indiana. And Boston-based Biofourmis, a biotech company that monitors patients at home, merged with CopilotIQ, a connected care company for those with chronic conditions.

October’s minted unicorns
Here are all of the newly minted October unicorns, by sector.
AI
Energy
  • Nuclear fusion company Pacific Fusion, based in Fremont, California, raised a whopping $900 million Series A led by General Catalyst. The 1-year old company did not disclose its valuation, but it’s surely well into unicorn territory.
Professional services
  • San Francisco-based EvenUp, an AI legal tech company for personal injury law firms, raised a $135 million Series D led by Bain Capital Ventures. The 5-year old company was valued at $1 billion.
Fintech
  • Business payment platform Moniepoint raised a $110 million Series C led by Africa-focused private equity fund DPI. Moniepoint is processing $17 billion monthly for its customers primarily in Nigeria, with plans to expand across Africa. The 9-year old London-headquartered company was valued at $1 billion.
Robotics
  • San Francisco-based Nimble Robotics, an AI robotics for e-commerce picking and packing, raised a $106 million Series C led by private investment firm Cedar Pine and previous investor FedEx. The 7-year old company was valued at $1 billion.

Related Crunchbase unicorn lists

WSJ : Volkswagen Chooses Rivian’s Kjell Gruner to Lead U.S. Business

Volkswagen Chooses Rivian’s Kjell Gruner to Lead U.S. Business
Gruner will take over as chief executive of Volkswagen’s America operations on Dec. 12

Volkswagen VOW3 -1.14%decrease; red down pointing triangle said Rivian Automotive executive Kjell Gruner will lead its U.S. business, a week after teaming up with the electric-vehicle startup in a $5.8 billion deal.

The German car maker said Gruner would take over as chief executive of Volkswagen’s America operations on Dec. 12 from Pablo Di Si, who requested to step down last week. Gruner most recently served as chief commercial officer at Rivian and has experience at Porsche AG, PAH3 -1.08%decrease; red down pointing triangle DaimlerChrysler and Mercedes-Benz Cars.

His appointment comes a week after Volkswagen agreed to invest up to $5.8 billion in Rivian’s stock and a joint venture in exchange for access to onboard computing and software that Rivian had developed for its own vehicles.

The deal represents a much-needed financial boost for Rivian, whose technology should help Volkswagen compete with Elon Musk’s Tesla and Chinese rivals. Volkswagen executives have been alarmed the company is falling behind Chinese rivals in terms of digital features and Rivian’s technology presents a technological leap compared with its current offering.

Automakers have been agonizing for months over a slow EV market and fierce competition from local car makers in China. Several car makers, including Volkswagen, have cut their sales and profitability forecasts for the year as challenges pile up.

Volkswagen is also considering factory closures in Germany—which would be a first in its history—as it seeks to urgently cut costs after reporting a sharp fall in third-quarter earnings.

Gruner will also serve as CEO of Volkswagen’s namesake brand in North America, the company said. Chief Human Resources Officer Gerrit Spengler will act as interim chief executive until Gruner takes charge.

North America accounted for roughly 11% of the cars Volkswagen delivered to customers in the first nine months of the year.

NY Post : Sam Altman seeks investors for AI chipmaker that aims to challenge Mus

Sam Altman seeks investors for AI chipmaker that aims to challenge Musk-friendly Nvidia: source

Sam Altman is personally pitching OpenAI investors on backing an upstart challenger to chipmaking giant Nvidia — even as Nvidia reportedly ramps up its business ties with Elon Musk, The Post has learned.

The OpenAI CEO is promoting an upcoming $150 million second round of financing that values Rain AI — a fledgling manufacturer of high-performance semiconductors — at roughly $600 million, according to a source with direct knowledge of the situation.

Altman was a major investor in Rain AI’s 2022 $25 million seed round, sources said.

The latest round is expected to begin next month, the source said.

“He has introduced the company to all his investors for this series B round,” the source said of Altman.

Rain AI says its chips are much more energy efficient and powerful than Nvidia’s, sources said.

In June, the company hired former Apple chip executive Jean-Didier Allegrucci as head of hardware engineering.

OpenAI declined to comment.

A Rain AI spokesman didn’t immediately respond to requests for comment.

Altman is pushing Rain AI at a time his rival Elon Musk is speaking to Nvidia about investing in his xAI, The Post reported exclusively earlier this month.

Nvidia has a staggering 85% market share in the artificial intelligence chip space and has become the most valuable company in the world with a $3.5 trillion market cap.

It is expected to continue to sell its chips to Open AI even if it invests with Musk.

Still, insiders speculated that Altman has grown concerned that Nvidia’s relationship with Musk is getting too cozy.

Musk is expecting to soon spend billions to buy 100,000 Nvidia chips, CNBC reported.

“Rain AI is one of the legitimate players at the table when it comes to the future of AI and chips,” Wedbush Analyst Dan Ives told The Post.

“There’s a lot of buzz around everything Rain AI is doing and it’s the early days of the AI revolution.,” Ives added. “There’s going to be many players, not just the ‘Godfather of AI’ Jensen Huang and Nvidia.”

“When you have someone like Altman backing [them] that puts them right in the middle of Times Square with a spotlight on them,” he said.

“Any company [Altman] backs is a huge vote of confidence and gives them a massive runway to where they can head.”