Private collection expropriated by the State of São Paulo, Brazil

Brazilian banker and art collector Edemar Cid Ferreira has once again made the pages of the Brazilian morning newspapers. The former president of Banco Santos¿sentenced in 2004 to serve 21 years in prison for money-laundering, fraud, and founding criminal groups against the Brazilian financial system-who is currently on parole after being granted the Habeas Corpus in 2006, has just being stripped of his private collection of works of art and culturally-valuable objects. Following a decision by the Supreme Court, the former banker's collection-which includes works of art, documents and maps¿has temporally being housed at the Universidade de São Paulo. Spread across several institutions within that university, just the Museu Paulista (Ipiranga) received eight thousand objects from that collection that are already on display as part of the Museum¿s permanent exhibition entitled "Patrimonio a Descubrir" (translator's note: I could not find the original in Portuguese). The Institute for Brazilian Studies (IEB) was entrusted with maps and archeological material, while the Museu de Arte Contemporânea (MAC-USP) received paintings and photographs.* The court has also ordered the banker to vacate his home in the exclusive Morumbi neighborhood in the city of São Paulo, for failing to pay the R$ 20,000 (about US$ 12,000) monthly rent. The residence was designed by architect Ruy Othake and cost around R$142,700,000 to build (about US$ 85,259,000). A final ruling on this matter is expected to be issued in approximately 15 days. *Souce: "Acervo de Banqueiro esta exporto" Diana Dantas, Estado.com.br, January 6, 2011. * Mapa das artes.com