Edemar Cid Ferreira (31 May 1943 – 13 January 2024) was a Brazilian economist, banker, and art collector.[1] He was the founder and head of Banco Santos, which went bankrupt in September 2005.[2][3] Ferreira was convicted in Brazil of bank fraud, tax evasion, and money laundering.[4] He began serving 21-year prison sentence in December 2006.[5] As part of the case, a judge ordered the search, seizure and confiscation of assets that were acquired with illegally obtained funds from Banco Santos. Ferreira assembled a 12,000-piece art collection while he controlled Banco Santos.[4] Before his arrest, he smuggled his collection out of Brazil.[1] The United States government seized items from a storage facility in New York that did not comply with customs laws. They returned Basquiat's Hannibal painting, a Roy Lichtenstein, a painting by Joaquín Torres-García, a Serge Poliakoff, and other works with an estimated value of $20 million to $30 million.[1]
Ferreira died from a heart attack on 13 January 2024, at the age of 80.[6]
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