(Bloomberg) — Brazilian health-plan provider Qualicorp SA fell to the lowest level in four years after a report that federal police carried out searches at the residence of a unit’s chief executive officer amid a corruption probe.
The shares slumped 6.5 percent to 14.03 reais at 1:21 p.m. in Sao Paulo, its lowest level since October 2011 on a closing basis. The benchmark Ibovespa index dropped 0.5 percent.
The police collected bank statements, a computer and a mobile phone at the house of Elon Gomes, the CEO of Qualicorp’s Alianca Administradora de Beneficios de Saude, newspaper O Estado de S. Paulo reported, citing the executive’s lawyer. The operation is investigating illegal financing of the election campaign for governor at the state of Minas Gerais.