SAO PAULO — A court has convicted the Brazilian mining tycoon who founded a massive outdoor art park of money laundering and sentenced him to more than nine years in prison. Prosecutors alleged that in 2007 and 2008, $98.5 million in donations and loans meant for the Inhotim art park were rerouted to pay expenses at mining and steel companies owned by Bernardo Paz. Since its founding it more than 10 years ago, the Inhotim park in Minas Gerais state has become one of the most important art centres in Latin America. After the conviction became public, the park said in a statement that it had no connection to Paz’s companies. Paz’s sister, Virginia de Mello Paz, was also convicted.

Source: National Post November 18, 2017 15:46 UTC