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Brazilian leading contractor admits paying 36m dollars in bribes to Petrobras officials

Monday, April 20th 2015 - 06:42 UTC
Full article 3 comments
Camargo Correa is one of the largest privately owner organizations in Brazil with businesses in several fields, and operations in 21 countries Camargo Correa is one of the largest privately owner organizations in Brazil with businesses in several fields, and operations in 21 countries
Eduardo Hermelino Leite, arrested in November for his alleged role in the corruption case cut a deal with prosecutors to reduce any possible prison time. Eduardo Hermelino Leite, arrested in November for his alleged role in the corruption case cut a deal with prosecutors to reduce any possible prison time.
Most of the fifty politicians suspected of benefiting from the corruption scheme at Petrobras belong to President Dilma Rousseff's party and allies. Most of the fifty politicians suspected of benefiting from the corruption scheme at Petrobras belong to President Dilma Rousseff's party and allies.

A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.

 Eduardo Hermelino Leite, who was arrested in November for his alleged role in the corruption case and was later released, cut a deal with prosecutors to reduce any possible prison time.

Leite paid the bribes between 2007 and 2012 to two Petrobras officials, one who was in charge of services and the other of the oil company's supply unit, Globo television reported.

Camargo Correa hired third parties as subcontractors to provide services to Petrobras, with the cost of the work being inflated to hide the illegal payments, Leite told prosecutors.

Police have arrested five former Petrobras executives as well as owners and executives of construction companies that had contracts with Brazil's largest company, which accounts for about 12% of the country's GDP.

Around 50 politicians suspected of benefiting from the corruption scheme, most of them from President Dilma Rousseff's party and allies, also are under investigation, including the heads of both houses of Congress.

Joao Vaccari, the former treasurer of the ruling Workers' Party, or PT, was arrested last week.

The Brazilian construction and engineering companies suspected in the scheme, which investigators say dates back more than 10 years, allegedly inflated their invoices and split the extra money with corrupt Petrobras officials, while also setting aside some of the loot to pay off politicians who provided cover for the graft.

Rousseff, a former Petrobras chairwoman whose approval rating has plunged to around 13% amid the scandal, has sought to distance herself from the corruption case. Investigators are still trying to determine how much money was siphoned out of Petrobras, with estimates putting the figure in the billions of dollars.

According to the company's site, Camargo Corrêa Group is today one of the largest privately-held organizations in Brazil. Managed by the holding company Camargo Corrêa SA, a privately-held and family-controlled company, the Group is formed by about 58,000 employees and operates in 20 Brazilian states and 21 countries.

Financial statements from 2012, indicate revenue was 9.2bn dollars from businesses in cement, steel, real estate, construction, oil & gas, power, transportation, plus manufacturing.

Categories: Economy, Politics, Brazil.

Top Comments

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  • Conqueror

    Let's be fair about this. Rousseff engaged in marxist guerilla activity between 68-69. On to VAR Palmares. Said to be the 'leader' and organised robberies and use of money. Jailed. Petrobras chairwoman 2003-2010. Minister of Energy 2003-2005. How does that work? Chief of Staff 2005-2010. How does that work? And, wow, she knew nothing. Two possibilities. Either she was in it up to her eyebrows, or she's incredibly thick. Let's see all the bank and property records.

    And let's not forget to take Lulu into custody and fry his balls. See what he has to scream!

    Apr 20th, 2015 - 10:05 am 0
  • ChrisR

    But, but!!!

    Didn't BRASSO say this was all over?

    Didn't we tell him he's an idiot?

    And guess what BRASSO? It isn't over yet!

    This will run and run for the next two or three YEARS.

    Morte de Lula em 2015!

    Apr 20th, 2015 - 11:10 am 0
  • Jack Bauer

    ChrisR,
    Anything that comes out of the brasshole's mind, can't be taken seriously......he is always going to post the same shite that he has in his head.
    Rumour has it that Lulu sneaks off to one of Sao Paulo's main hospitals in the wee hours of the morning, so as to not be seen when he goes for his treatment against cancer....hope the m-f dies...soon !

    Apr 24th, 2015 - 10:34 pm 0
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