AP — Brazilian authorities have issued arrest warrants for three executives of the Banco Paulista as part of a sweeping investigation into money laundering linked to the construction conglomerate Odebrecht.

Federal prosecutors said Wednesday the three are suspected of involvement in the laundering of 48 million reals (about $12.2 million) between 2009 and 2015. Federal police say the bank hired front companies that issued fictitious contracts to justify non-existent services.

It’s not immediately clear if the three have been arrested.

Authorities also issued 41 search and seizure warrants in Sao Paulo, Rio de Janeiro and Porto Alegre as part of the so-called “Car Wash” investigation.

Read more at the Associated Press

Photo: Rovena Rosa [CC BY 3.0 br], via Wikimedia Commons

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