Brazilian regulator accuses Petrobras ex-executives of
graft
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 [January 16, 2018]
By Aluisio Alves and Gram Slattery
SAO PAULO (Reuters) - Brazil's securities
regulator formally accused eight former executives of state-run oil
company Petroleo Brasileiro SA of corruption on Friday, as the world's
largest graft investigation stretches deep into its third year.
According to a legal filing by the CVM, Brazil's equivalent to the U.S.
Securities and Exchange Commission, the accusations relate to possible
irregularities in the contracting process for three drill ships. The
accusations stem from an investigation started in March 2016, and
include two former CEOs of Petrobras <PETR4.SA>, as the company is
commonly known.
Petrobras is at the center of the so-called Lava Jato or "Car Wash"
scandal, a massive corruption investigation that has sent dozens of top
ranked executives and politicians to jail. The company, which is the
target of 14 separate CVM inquiries, did not immediately respond to en
e-mail requesting comment.
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Brazil's state-run oil company Petrobras former president Maria das
Gracas Silva Foster reacts during a session of a parliamentary
commission investigating allegations of corruption in Petrobras, at
the Chamber of Deputies in Brasilia March 26, 2015. REUTERS/Ueslei
Marcelino
Among the accused in CVM's filing are former Petrobras chief executives Maria
das Graças Foster and José Sérgio Gabrielli; former services head Renato Duque;
former supply chain head Paulo Roberto Costa; former international business head
Nestor Cerveró; former CFO Almir Barbassa; former exploration and production
head Guilherme Estrella; and former gas and energy head Ildo Sauer.
Several of the accused, including Duque and Roberto Costa, have already been
convicted of separate corruption-related offenses. There was no public
information immediately available regarding the timeline for the next steps in
the legal proceedings.
(Reporting by Aluisio Alves and Gram Slattery; editing by Grant McCool)
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