A court dismissed the 75-year-old's attempt to have the arrest warrant lifted on Thursday.
Collor de Mello was elected president in 1990 but was forced to resign just two years later. He was also accused of corruption at the time, but was acquitted by the country's highest court.
He is, however, not the first president to get into trouble with the law. Since the military regime of 1964-1985, four out of seven presidents have either been prosecuted or convicted of crimes. Most recently, ex-president Jair Bolsonaro, who is facing charges for attempting to stage a coup.
