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Brazilian police raid Ita� offices in tax fraud probe

Federal police in Brazil raided the offices of Ita� Unibanco Holding SA on Dec. 1 as part of a new phase of the so-called "Operation Zealot" tax fraud case, Reuters reported.

The police issued a statement saying that 34 search warrants had been issued in the states of S�o Paulo, Rio de Janeiro and Pernambuco in an investigation into alleged "collusion" between a member of Brazilian tax appeals board CARF and an unnamed banking institution. Ita� later confirmed it was the target of th

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