Edemar Cid Ferreira
Edemar Cid Ferreira | |
|---|---|
| Born | Template:Birth date |
| Died | January 13, 2024 (aged 80) |
| Occupation(s) | Economist, banker, art collector |
| Known for | Founder of Banco Santos; art collection; convicted of bank fraud, tax evasion, and money laundering |
Edemar Cid Ferreira (31 May 1943 – 13 January 2024) was a prominent Brazilian economist, banker, and art enthusiast. He established Banco Santos and served as its principal executive until the bank filed for bankruptcy in September 2005. In December 2006, Ferreira began serving a 21-year prison term after being found guilty in Brazil of bank fraud, tax evasion, and money laundering. A judicial order was issued to confiscate assets that had been purchased using illicit proceeds from Banco Santos. Throughout his career, Ferreira accumulated an art collection comprising approximately 12,000 pieces, which he covertly transported out of Brazil prior to his detention. The United States authorities later seized artworks from a storage facility in New York due to customs violations, recovering items valued between $20 million and $30 million. These included Basquiat's Hannibal, as well as paintings by Roy Lichtenstein, Joaquín Torres-García, and Serge Poliakoff.
Ferreira passed away from a heart attack on 13 January 2024 at the age of 80.