Brazil charges former Trafigura executives with corruption
- Editor
- Dec 14, 2018
- 1 min read
Summary: Federal prosecutors in Brazil filed corruption charges against two former Trafigura executives, accusing them of paying $1.5 million in bribes to Petrobras officials to gain better trading terms and increased frequency of oil deals. The charges stem from 31 transactions that occurred between 2009 and 2014. The indictment alleges money laundering via offshore accounts and cash payments. One executive, Mariano Ferraz, had already been sentenced to 10 years for related bribery offenses. These developments are part of the broader Operation Car Wash, which has implicated top politicians and executives across Brazil. Interpol alerts were issued for suspects abroad, and major oil trading houses including Vitol, Glencore, and Mercuria are also under investigation. While all firms publicly claim zero tolerance for corruption, the probes continue to widen.
Source: The Guardian
