Ferrentini, who had a close relationship with Barsi, approached him to ask for an investment recommendation. He had R$21 million and wanted a monthly passive income of R$150 thousand. But, of the total invested (between 2021 and 2023), Ferrentini recovered R$1.5 million.
The loss was R$14.4 million. The story was revealed on November 30th by the NeoFeed website. Barsi would have guided the purchase of the shares of the reinsurer IRB in June 2021. The mega-investor, who alone holds 1.5% of IRB’s shares, asked for a “vote of confidence”, because the company would be going through a restructuring process.
In an interview with Folha de S.Paulo’s Panel SA column, Ferrentini said he followed his friend’s recommendation. He highlighted that the promise was that his money would be tripled. Ferrentini’s portfolio advisor was reportedly upset and expressed concern — after all, he wanted to buy R$15.9 million in reinsurer shares, which corresponded to 80% of his total assets. Even so, the investment was made.
The investor filed a request to investigate the case with the CVM. The document was also delivered to the MPF (Federal Public Ministry). He alleged that Barsi, through the brokerage Boa Vista Investimentos, could have practiced insider trading and front running.
In a statement released to the press at the time, Barsi denied interfering in his friend’s investments. The statement highlighted that the businessman does not look after or manage the portfolio of third parties, other than his own.
The text also said that the investor has “vast experience in the investment market, especially in long-term businesses”. And he has always been aware that “the securities market is a fluctuating income market, therefore subject to several variables, economic, political, social, endemic, among other multiple factors”.
Tags: CVM acquits billionaire Barsi alleged privileged information
