Corruption losses at Brazil's state-owned energy giant will likely reach $5.3 billion but could go even higher, a prosecutor said this week.
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Brazilian police arrested Marcelo Odebrecht, the billionaire CEO of the powerful Odebrecht conglomerate.
Brazil’s state-owned oil giant is filing five joint lawsuits against engineering and construction firms to recover about $424 million tied to a long-running corruption scheme.
Prosecutors in Brazil Tuesday charged a former senior executive at the state-controlled energy giant with racketeering, bribery, and money laundering.
UK-based Rolls Royce has been accused of bribing an employee of Brazil's state-controlled oil company to win a $100 million contract to provide gas turbines for oil platforms.
Petrobras CEO Maria das Graças Foster has resigned her post along with five other executives, the state owned company said Wednesday in a securities filing.
The city of Providence, Rhode Island is reportedly suing Brazil’s Petrobras and CEO Maria das Gracas Silva Foster for bond losses tied to alleged corruption.
Four months after being arrested by Brazilian police on charges of money laundering, Petrobras’ former refining and fuel chief Paulo Roberto Costa is now being investigated for bribery.