Petrobras scandal

Petrobras scandal,

Brazilian corruption scandal involving executives at the government-controlled oil company, Petróleo Brasileiro S.A. (Petrobras), prominent politicians, and construction firms working for Petrobras. Revealed by a government investigation begun in 2014 as a money laundering investigation and nicknamed Operação Lava Jato [operation car wash] for the gas station where money laundering of illegal gains took place, it became the largest corruption case in Brazil's history, involving overpayments made by large construction companies, especially Brazil's Odebrecht Group, to Petrobras to provide kickbacks to senior Petrobas executives and politicians and campaign funds to political parties. The payments, which extended from at least 2004 to 2012, ultimately totaled about $2 billion. Among those who came under investigation were officials in the Workers' party (PT), including members of the governments of Presidents Dilma RousseffRousseff, Dilma
, 1947–, Brazilian political leader, b. Belo Horizonte. The daughter of a Bulgarian immigrant lawyer and a Brazilian teacher, she was trained as an economist and studied at the Federal Univ. of Rio Grande do Sul (grad. 1977).
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 and Lula da Silvada Silva, Luiz Inácio
, 1945–, Brazilian labor leader and politician, known as Lula, b. Vargem Grande (now Caetés), Pernambuco. Born into a poor family, da Silva worked as a child to help support the household.
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, her predecessor, and politicians from other parties, primarily those in coalition with the PT, as well as Petrobas employees who had been bribed and businesses and executives that had signed overpriced contracts with the company. Michel TemerTemer, Michel
(Michel Miguel Elias Temer Lulia), 1940–, Brazilian political leader. The son of Lebanese immigrants, he studied law at the Univ. of São Paolo and the Pontifical Univ. of São Paolo, becoming a scholar of constitutional law.
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, Rousseff's vice president, who succeeded her as president after she was removed from office, was also implicated, as were several ministers in his cabinet and the speaker of Congress's lower house, Eduardo Cunha, who had led the impeachment drive that removed Rousseff from office in 2016. New allegations in Apr., 2017, concerning Odebrecht's bribery, implicated eight cabinet ministers and other prominent politicians and officials; the investigation also exposed the bribery employed by Odebrecht to secure government contracts throughout the world (see Odebrecht corruption scandalOdebrecht corruption scandal,
series of graft scandals involving the Grupo Odebrecht, a Brazilian construction and petrochemicals conglomerate, as well as Petrobras, the Brazilian multinational petroleum corporation, and numerous executives and public officials across the
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). Temer was accused of having sought to obstruct the Operação Lava Jato investigation, but the Brazilian Congress failed to pass a motion that would have allowed putting him on trial. In 2018 Petrobras paid $2.95 billion to settle a class action lawsuit brought by investors in the United States and later agreed to pay a fine of more than $853 million to Brazil and the United States.
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A group of institutional and individual investors originally filed the lawsuit in 2015 after reports emerged implicating Braskem in the Petrobras scandal. The investors argued that they had been misled by the company's statements into believing that its operations were legitimate and legal.
Batista agreed to make the recording as part of a plea bargain with federal prosecutors over his company's role in the Petrobras scandal.
Lula, a charismatic former union leader who was a two-term president from 2003 to 2010, has separately been indicted by a court in Brasilia for obstruction of justice in a case related to an attempt to persuade a defendant in the Petrobras scandal not to turn state's witness.
Cunha has warned he could tell all in a plea bargain that could compromise many in a discredited political establishment, where 50 politicians are already under investigation for taking kickbacks in the Petrobras scandal.
Hope resurged with the discovery of vast oil reserves off Rio's shores, but then came the collapse of crude and the Petrobras scandal.
Hope resurged with the discovery of vast oil reserves off Rio's shores, but then came the collapse of crude and the Petrobras scandal. Rio's state governor took a federal bailout last month, while city hall has mortgaged its revival on the Olympic windfall.
Human Rights Committee alleging a lack of impartiality and abuse of power by another judge investigating the Petrobras scandal. Silva leads the polls for the 2018 presidential elections.
A new election could be held soon if an electoral court, which has been investigating allegations that money from the Petrobras scandal seeped into Rousseff's 2014 campaign, invalidates her last victory.
The publicity surrounding the Petrobras scandal and the way in which the impeachment has been pressed for by the right could lead cynics to aver that one set of crooks has conspired to throw out another.
The Petrobras scandal has weakened Rousseff by reaching her inner circle with allegations against her mentor and predecessor, Workers' Party founder Luiz Inacio Lula da Silva.
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