Brazil 6

Brazil: Arrest of Former CEO Unlikely to Slow Petrobras’ Recovery

Aldemir Bendine, the former CEO of state-owned oil company Petrobras and state-owned bank Banco do Brasil, was arrested last week within the context of the Lava Jato Federal Police investigations. Bendine (see our Personality of the Week) is suspected of having received $3mn reais (roughly $1mn) in bribes from business executives of the construction conglomerate Odebrecht, allegedly in exchange for protecting the company’s contracts with Petrobras. The conglomerate has been under intense scrutiny since the Lava Jato investigations uncovered that it was at the heart of a corruption scheme within Petrobras.


To continue reading, please submit your contact details along with a short message below indicating what you'd like to learn more about and we'll get back to you.