Banco Santos collapse (2004-2005)
Edemar Cid Ferreira's Banco Santos was liquidated by Brazil's central bank after a fraud scheme was uncovered. The bank's collapse was one of the largest in Brazilian history, with losses estimated in the billions of reais.
The central bank's intervention froze assets and triggered years of litigation.
Set a precedent for aggressive central bank liquidation of fraud-ridden institutions.
Shows the central bank's established pattern of liquidating financial firms when fraud is suspected.
