Former Brazilian president Jair Bolsonaro is once again under the microscope, as new revelations about his financial dealings threaten to deepen his already considerable legal troubles. According to documents obtained by the Associated Press and corroborated by Brazil’s federal police, Bolsonaro allegedly received more than 30 million Brazilian reais—over $5 million—between March 2023 and February 2024, with no clear justification for the influx of funds. The majority of this money reportedly flowed through a dizzying array of transactions, including over 1.2 million individual PIX payments, wire transfers, deposit slips, cash withdrawals, and currency exchanges. The findings, part of a sprawling 170-page investigation into obstruction of justice, have been submitted to Brazil’s Supreme Court and could mark a turning point in the former president’s ongoing legal saga.
Much of the financial data stems from Banco do Brasil, the state-owned bank, which flagged the transactions as suspicious. Brazil’s financial watchdog suspects that these movements are more than just irregular—they may constitute money laundering. Investigators allege that Bolsonaro and his son, Eduardo, orchestrated “several maneuvers to dissimulate the origin and destination of financial resources, with the aim of financing and supporting activities of illegal nature of the lawmaker (Eduardo Bolsonaro) living abroad,” as reported by the Associated Press.
Bolsonaro, who served as Brazil’s president from January 1, 2019, to December 31, 2022, has not publicly commented on these most recent accusations. However, he has previously insisted that he is the victim of political persecution by the current administration of President Luiz Inácio Lula da Silva. In a 33-page letter addressed to Argentine President Javier Milei, Bolsonaro claimed he was being targeted for political reasons, a sentiment echoed in his broader defense strategy.
But the allegations don’t stop with unexplained cash flows. The investigation also details how Bolsonaro invested a similar amount of money during the same period, raising further questions about the source and intent behind these funds. The federal police assert that the elaborate pattern of transactions, including the massive volume of PIX payments—nearly 20 million reais, or about $3.48 million—suggests a deliberate effort to obscure the money’s origins and ultimate use.
Adding to the intrigue, the new financial allegations have surfaced just as Bolsonaro is set to face the verdict and sentencing phase of his trial over an alleged coup plot. The Supreme Court’s five-judge panel is scheduled to deliver its decision between September 2 and 12, according to AP reports. Importantly, these newly unearthed financial dealings will not be considered in the coup plot verdict, but they may pave the way for additional charges—specifically, money laundering and obstruction of justice—if the Attorney General decides to pursue them.
If formal charges are filed, Bolsonaro could find himself fighting on multiple legal fronts. The obstruction of justice probe is already well underway, and the financial investigation only adds fuel to the fire. Earlier, Bolsonaro’s legal team expressed surprise at the police’s decision to formally accuse him of obstruction, maintaining that their client had complied with all precautionary measures imposed by the court.
Yet, recent developments suggest otherwise. Justice Alexandre de Moraes, the Supreme Court judge overseeing the case, instructed Bolsonaro’s lawyers on August 21, 2025, to explain within 48 hours why their client had not complied with the conditions of his house arrest. The federal police allege that Bolsonaro continued to communicate with allies in recent weeks, potentially violating the terms of his confinement. Bolsonaro’s lawyers, however, firmly deny any wrongdoing. “There was never noncompliance with any precautionary measure previously imposed,” they stated, pledging to provide further clarification to Justice de Moraes in due course.
The swirl of legal drama has also spilled over into the international arena. According to police documents, Bolsonaro considered seeking political asylum in Argentina last year. He even wrote a lengthy letter to President Milei, outlining claims of political persecution in Brazil. Despite this, Bolsonaro’s lawyer, Paulo Cunha Bueno, told GloboNews that the former president never seriously contemplated fleeing to Argentina. “Someone sent him that asylum request in February of 2024. He could have gone, but he did not. He didn’t want it and he was neither in house arrest nor in ankle monitoring. He had every condition to flee and he did not,” Cunha Bueno explained.
For its part, the Argentine government has stated unequivocally that it has not received any official asylum request from Bolsonaro. Manuel Adorni, spokesperson for President Milei, confirmed that “the Argentine government hasn’t received anything yet.” This statement, along with Bolsonaro’s lawyer’s remarks, suggests that any talk of asylum was more speculative than substantive.
Meanwhile, Bolsonaro’s movements have been further restricted by the Brazilian judiciary. On February 8, 2024, the Supreme Court seized his passport, citing concerns that he posed a flight risk. Bolsonaro has made several attempts to retrieve the document, including just before former US President Donald Trump’s inauguration earlier this year, but all requests have been denied by Justice de Moraes. The connection between Bolsonaro and Trump is more than coincidental—both leaders have publicly supported each other, and Trump has recently echoed some of Bolsonaro’s rhetoric, particularly in relation to imposing tariffs on Brazilian exports.
The scope and scale of the financial transactions under scrutiny are staggering. To put it in perspective, over 1.2 million PIX transactions—Brazil’s instant payment system—were allegedly used to funnel nearly 20 million reais to Bolsonaro. This method, typically employed for rapid, secure transfers between individuals and businesses, is unusual for such large and frequent sums. Coupled with substantial investments and a flurry of other financial activities, the pattern has raised red flags for investigators tasked with following the money.
Bolsonaro’s legal woes have only compounded since leaving office. In addition to the coup plot trial and the ongoing obstruction of justice investigation, these fresh financial allegations could open up an entirely new avenue of prosecution. Should the Attorney General decide to press formal charges, a separate trial for obstruction of justice—and potentially money laundering—would likely follow.
Throughout the ordeal, Bolsonaro has maintained his innocence and cast himself as a political target. His legal team remains adamant that he has abided by all court-imposed restrictions, while also emphasizing that the former president never seriously considered fleeing the country despite ample opportunity. As the Supreme Court prepares to deliver its verdict in the coup plot case, all eyes are on whether these new revelations will tip the scales further against Bolsonaro.
The coming months promise to be pivotal for both the former president and Brazil’s political landscape. With verdicts looming and investigations intensifying, the nation—and indeed the world—will be watching closely to see how the saga of Jair Bolsonaro unfolds.
