24th June 2019
In December 2016, “the largest foreign bribery case in history” was settled in the United States. It was described as such by the Department of Justice when US prosecutors struck a $3.5 billion plea agreement with Brazilian construction giant Odebrecht and its subsidiary Braskem. The Odebrecht prosecution came amid a… Read More
21st June 2019
Walmart Inc has agreed to pay a total penalty of $282 million to settle charges by the U.S. Justice Department and the Securities & Exchange Commission that its Brazilian unit violated the Foreign Corrupt Practices Act. The retailer will pay more than $144 million to settle charges by the SEC… Read More
20th June 2019
Brazilian Justice Minister Sergio Moro said on Wednesday that a criminal organization was responsible for leaks of his private messages as a federal judge, which raised questions about his ethics while overseeing a major corruption probe. Moro is facing calls for his resignation after text messages published by news website… Read More
18th June 2019
Brazilian conglomerate Odebrecht SA filed on Monday for bankruptcy protection, aiming to restructure 51 billion reais ($13 billion) of debt in what would be one of Latin America’s largest-ever in-court debt restructurings. The bankruptcy filing comes after years of struggles for Odebrecht, the biggest of the Brazilian engineering groups caught… Read More
14th June 2019
Brazil’s Petrobras found suspicious activity in its oil trading business – and failed to stop it – six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters. A 2012 internal probe at the… Read More
11th June 2019
Brazilian Justice Minister Sergio Moro and federal prosecutors scrambled to respond on Monday to reports published by news website The Intercept based on what it said were leaked messages from a corruption probe. The Intercept said it was only beginning to report on an “enormous trove” of leaked messages… Read More
3rd June 2019
Brazil’s Petrobras has received an information request from the U.S. Commodity Futures Trading Commission regarding its trading activities, the state-run oil firm said on Thursday, after prosecutors found evidence of fraud in deals with major traders. In a securities filing, Petroleo Brasileiro SA, as the company is formally known, said… Read More
30th May 2019
Mexican President Andres Manuel Lopez Obrador made his boldest move yet to root out entrenched corruption by going after one of his predecessor’s closest aides, a former chief of state oil firm Pemex, for alleged bribery, tax fraud and other crimes. The target, Emilio Lozoya, headed Pemex from 2012 to… Read More
30th May 2019
AP — Brazil’s Congress has voted to trim the powers of the country’s most famous anti-corruption crusader, removing Justice Minister Sergio Moro’s financial oversight authority. The decision late Tuesday was the latest to erode the authority of the man who spearheaded a sweeping corruption probe that has brought down dozens… Read More
29th May 2019
Federal prosecutors in Brazil criticized compliance standards at Brazilian bank Banco Bradesco SA on Tuesday, after requesting that a court issue an arrest warrant for two branch managers allegedly involved in a money laundering scheme. “The evidence collected here doesn’t leave any room for doubt that the financial institutions where… Read More