Featured Brazil

Credit Suisse Blocks Prosecutor Using Critical Finma Report

Credit Suisse Group AG has acted to block Geneva prosecutors from using details of a critical report by the country’s financial regulator into the bank’s failure to prevent fraud at its wealth management unit. The bank asked Geneva prosecutor Yves Bertossa to seal the report, which he is legally… Read More

Glencore Under Investigation for Bribery by U.K. Authorities

Glencore Plc is being investigated for bribery by U.K. authorities, deepening the legal troubles that threaten the world’s biggest commodities trader. The shares fell as much as 8.6% to a three-year low. The move by the Serious Fraud Office adds to ongoing corruption probes that Glencore is facing in the… Read More

Brazil’s top court eases access to confidential information in criminal probes

Brazil’s police and prosecutors can access confidential tax and financial information without a court order, the country’s Supreme Court ruled on Thursday, clearing the way for authorities to reopen an investigation of the president’s son. A majority of the high court’s justices voted to allow public prosecutors in financial crime… Read More
22nd November 2019
When merging with Fortis in 2010, ABN Amro failed to screen the over 5 million Fortis customers individually, according to NRC. All 5 million of them were automatically labeled as “reliable” – the lowest risk category – meaning that ABN Amro considers them relatively harmless and unlikely to commit financial… Read More
22nd November 2019
Swiss investigators have executed search warrants at addresses linked to Vitol and Trafigura, their counterparts in Brazil said on Thursday, as a sprawling probe into the global commodity trading industry intensifies. In a statement, Brazilian federal prosecutors said Swiss investigators searched the Geneva addresses on Wednesday as part of a… Read More
21st November 2019
The former chief executive of Brazilian petrochemical company Braskem SA (BRKM5.SA) was arrested on Wednesday in New York on charges that he took part in a scheme to pay millions of dollars in bribes to officials to secure government contracts. Jose Carlos Grubisich was charged with conspiracy to… Read More
20th November 2019
AP — Brazilian police are seeking the arrest of former President Horacio Cartes of Paraguay as part of an investigation into money laundering. On Tuesday, Brazilian authorities alleged Cartes provided $500,000 to a criminal organization at the request of Dario Messer, a Brazilian associate who was then a fugitive facing… Read More
13th November 2019
Italian authorities have announced the arrest of 71 suspected members of the country’s most powerful crime syndicate on drug trafficking and money laundering charges. A three-years-long nationwide operation named Cerberus after the three-headed hound of Greek mythology that guards the gates of the Underworld, culminated in the dismantling of two… Read More
11th November 2019
Brazil’s former president Luiz Inácio Lula da Silva has been released from prison after a supreme court ruling that delighted his supporters and infuriated followers of the far-right president Jair Bolsonaro. Lula, who was serving a 12-year corruption sentence, was greeted by hundreds of supporters wearing red vests emblazoned… Read More
8th November 2019
Brazil’s Supreme Court ruled on Thursday that defendants cannot be imprisoned before all their appeals are exhausted, marking a setback for graft investigations that have led to the convictions of dozens of high-ranking politicians and business leaders. The ruling, which reverses policy adopted in 2016, means that former President Luiz… Read More
28th October 2019
A task force of Brazilian public prosecutors said on Friday it is seeking to fine over a dozen people 5.3 billion reais ($1.3 billion) on accusations of fraud, money laundering and corruption involving an investment fund linked to prominent businessman Joesley Batista. Batista, the biggest shareholder in meatpacker JBS SA… Read More
25th October 2019
Swiss federal prosecutors said they had opened an investigation of private bank J. Safra Sarasin as part of a wide-ranging corruption probe surrounding Brazilian state oil company Petrobras (PETR4.SA) and construction firm Odebrecht. The Office of the Attorney General opened proceedings against the Basel-based bank in November 2018,… Read More
23rd October 2019
Switzerland has pressed charges against a person in a corruption probe of Brazilian state oil company Petrobras (PETR4.SA) and construction firm Odebrecht, the attorney general’s office said, adding it was seeking to conclude the case quickly. Prosecutors in Bern on Tuesday said they suspect the person, acting as… Read More