Post office employees try to recover losses in fund – 03/27/2024 – Panel

Fentect (National Federation of Workers in Postal, Telegraph and Similar Companies) hired the law firm Almeida, Castro, Castro and Turbay to try to recover part of the loss that the entity claims was caused by BNY Mellon to the Postalis pension fund.

The intention is to recover around R$12 billion that the bank would have generated for pension fund participants.

According to Emerson Marcelo Marinho, general secretary of Fentect, a clause in the contract with BNY Mellon establishes that the bank has to guarantee compensation for damages caused in the event of reckless action in investments for which it was responsible.

“It is Fentect’s most important step in seeking to recover the money that was usurped by BNY Mellon and which harms thousands of workers who depend on their retirement”, he states.

“It’s an uphill fight, but we won’t give up until we hold the bank responsible for all the billion-dollar embezzlement it caused in our pension fund, which leaves our retirement at risk.”

In Brazil, as shown by Panel S/A, the BNY Mellon brokerage has already received more than eight lawsuits from Correios workers for mismanagement of Postalis resources. The Panel contacted the bank, but received no response.

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