In 1983, NEC Brasil (pt), the Brazilian subsidiary of NEC, was forced to nationalize its corporate stock under orders of the Brazilian military government, whereby shareholder control of NEC Brasil was ceded to the private equity group Brasilinvest of Brazilian investment banker Mário Garnero. Since NEC Brasil's foundation in 1968, it had become the major supplier of telecommunications equipment to the Brazilian government. In 1986, the then Minister of Communications Antônio Carlos Magalhães put NEC Brasil in financial difficulties by suspending all government contract payments to the company, whose main client was the federal government. With the subsidiary in crisis, the NEC Corporation in Japan sold NEC Brasil to Organizações Globo for only onemillion US dollars (US$1,000,000). Shortly thereafter, Magalhães resumed the government contracts and corresponding payments, and NEC Brazil became valued at over 350million US dollars (US$350,000,000). Suspicions regarding the NEC-Globo deal, which included among other things the unilateral breach of contract by Globo founder Roberto Marinho regarding the management of a regional television station in the Brazilian state of Bahia, took to the national stage only in 1992 during the first corruption charges against the impeached Brazilian president Fernando Collor de Mello. Organizações Globo subsequently sold their shares in NEC Brazil, which hit their all-time high during the state monopoly years, back to NEC Corporation in 1999 following the break-up and privatization of the Brazilian state-owned telephone monopoly Telebrás.