Brazil charges former Trafigura executives with corruption

Bribes of more than $1.5m were allegedly paid to help secure more favourable oil trading

Federal prosecutors in Brazil have filed corruption charges against two former executives from commodities multinational Trafigura, a former executive at Petrobras and a middleman, over $1.5m allegedly paid in bribes for oil trading operations.

In a 146-page indictment, prosecutors in Curitiba in the southern state of Paraná said that former Trafigura executives Mariano Ferraz and Marcio Magalhães, middleman Carlos Herz and former Petrobras executive Marcus Alcoforado were involved in a corruption and asset laundering scheme that involved 31 oil trading operations between Trafigura and Petrobras, the Brazilian state-run oil giant. Magalhães, Herz and Alcoforado are all in custody.

Continue reading…
Source: theguardian