MercoPress. South Atlantic News Agency

Corruption charges against Decal do Brasil for bribing Petrobras top manager

Federal prosecutors allege that Ferraz paid US$868,450 to Petrobras' ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated prices contracts

Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz, accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm.

 Federal prosecutors allege that Ferraz paid US$868,450 to Petrobras' ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated prices contracts Decal do Brasil had with Petrobras to provide tanking and docking services at the Port of Suape in northeastern Brazil.

Lawyers for Ferraz did not immediately respond to requests for comment about the charges, nor did Group Decal, an Italian company that set up Decal do Brasil together with Ferraz.

Decal do Brasil first signed contracts with Petrobras in 2006, according to prosecutors, and by 2012 had signed several other contracts worth a total of 423 million reais (US$132.92 million).

Petrobras was the only client of Decal do Brasil, according to the document that lodged corruption and money-laundering charges against Ferraz.

Ferraz was arrested in Brazil in late October but was freed on bond of 3 million reais about two weeks later. At the time of his arrest, Ferraz was also working at Swiss trading company Trafigura as a board member and the key executive for business development in Brazil and Africa.

Trafigura said in early November that Ferraz had resigned from the company to deal with the allegations against himself and Decal do Brazil and added that Trafigura was not a party to any contracts between Petrobras and Decal and had no business relationship with Decal.