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RIO DE JANEIRO (Reuters) - Brazilian federal police arrested five people on Thursday for the alleged embezzlement of up to 40 million reais ($13 million) in public funds to benefit the country's water sports association.

Police also detained four people for questioning and carried out 16 search and raid warrants as part of the operation, according to an official statement.

The statement did not disclose the identities of the people involved in the probe into the Brazilian Confederation of Water Sports (CBDA). The investigation stems from information collected from current and former athletes as well as businessmen, it added.

The CBDA is a private entity which is partly funded by the public sector. It represents several sports, including diving, swimming and water polo.

($1 = 3.1123 reais)

(Reporting by Pedro Fonseca; Writing by Bruno Federowski; Editing by W Simon)

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