Former head of Petrobras' international sector Nestor Cervero has made a statement as part of his plea bargain, in which he says that Brazilian former president Lula a Silva gave him a job in 2008 as recognition for his help in repaying a R$12 million (US$3 million) loan considered fraudulent by police.
Brazil's federal tax authority and prosecutors are investigating 13 foreign and local banks for possible financial crimes intermediating loans to Brazilian engineering conglomerate Grupo Schahin, newspaper O Estado de S Paulo says.
Brazilian President Dilma Rousseff began the new year on the offensive declaring the impeachment proceedings she faces as “unfair” and overruling by veto more than 50 amendments made by lawmakers to the nation’s budget, including reductions to her flagship Bolsa Familia social program.
The sprawling Petrobras corruption scandal web is again close to former president Lula da Silva, this landowner Jose Carlos Bumlai, arrested during Operation Lava Jato, was charged with corruption, money laundering and fraud.
Brazil's attorney general went to the Supreme Court on Wednesday seeking to strip the leader of the House of Deputies of his seat. House Speaker Eduardo Cunha is the nemesis of embattled and unpopular President Dilma Rousseff — and earlier this month opened the door to begin impeachment proceedings against her.
Moody's Investors Service has lowered Brazilian state-controlled oil company Petrobras' credit rating further into junk territory and warned of a possible further downgrade. These rating actions reflect Petrobras' elevated refinancing risks in the face of deteriorating industry conditions that make it more difficult to raise cash through asset sales, the New York-based ratings agency said Wednesday.
Thousands of Brazilians took to the streets on Sunday to demand that embattled President Dilma Rousseff, facing a weak economy and a major political crisis including calls for her impeachment, be removed from office.
Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.
Brazilian authorities working on the country’s huge Petrobras corruption probe arrested Jose Carlos Bumlai, a rancher reportedly close to powerful former president Luiz Inacio Lula da Silva.
Brazil’s government is considering a debt plan to bolster the capital of heavily indebted state-controlled oil Petrobras, Agencia Estado news agency reported on Thursday. Under the plan, the Brazilian Treasury would transfer so-called hybrid securities to Petrobras, which would then book the securities as equity until it sold new stock, Estado reported.