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Tag: Carwash

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL - Yesterday, March 8th, lawyers for the relatives of former President Luiz Inacio Lula da Silva (known as "Lula" in Brazil) appealed the court against the searches and seizures made by...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian Senator, Delcidio Amaral and BGT Pactual Bank’s CEO, Andre Esteves were arrested on Wednesday, accused of obstructing investigations surrounding the Petrobras corruption scandal. This is the first time since...
By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - The Lava Jato (Carwash) corruption scandal in Brazil involving oil giant Petrobras and some of the country's largest construction companies is said to impact Brazil's GDP by R$142.6 billion...
By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - The sixteenth phase of the Lava Jato (Car wash) investigation has started this morning with a focus on electricity companies, especially Eletronuclear, a subsidy of Eletrobras. Eletronuclear's President Othon...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After months of scandals which have led to a strong devaluation of Petrobras’ shares and a downgrade by a major credit rating company, its CEO, Maria das Graças Foster, resigned...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The investigation which seeks to determine the financial losses to Brazil’s oil giant, Petrobras, due to Operação Lava Jato (Operation Carwash) may take up to three years to be concluded...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After twice postponing the release of the third quarter financial results for 2014, Brazilian oil giant Petrobras released the report early Wednesday (January 28th) morning. The results show a net...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Federal Police in Brazil has indicted twelve executives from four construction giants being investigated in the Petrobras money laundering scandal. According to the government agency, a lobbyist for some...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – What started out as a scheduled meeting by Petrobras officials to announce the company’s quarterly operational results turned into a teleconference to discuss the worst scandal ever faced by the...
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