The charges stem from alleged corruption toward the end of Teixeira's presidency, between 2009 and 2012, but the investigation is being conducted "completely under wraps," Marcelo del Negri, spokesman for the federal prosecutor's office, told AFP.
A federal police probe found that between 2009-2012, Texeira, who led the CBF for 23 years, moved 464 million reais (now $147.3 million) through his accounts -- an amount that drew attention as "unusual," the newsmagazine Epoca reported after gaining access to the police file.
The police probe itself was completed in January, the news report said.
Investigators reportedly found sufficient evidence to charge Teixeira with four crimes including illegal currency movement and falsifying public documents.
Now it is up to the prosecutor to decide whether to hold a formal inquiry and file charges, or dismiss the police report's allegations.
Police did not immediately confirm the report.
Between 2009-2012, Teixeira already was working as head of the organizing committee for World Cup 2014.
Teixeira was a son-in-law and protege of the legendary Joao Havelange, who led FIFA for 24 years from 1974-1998.
Sepp Blatter, FIFA's president since 1998, was re-elected Friday to a new four-year term.
The vote came two days after US officials indicted 14 people, including nine current and former FIFA executives on charges of fraud, money laundering and bribery.
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