Brazil prosecutors charge former Trafigura executives with corruption

SAO PAULO (Reuters) - Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1.5 million in bribes to employees of Brazil's state-run oil company Petroleo Brasileiro. Prosecutors said in a written statement that the charges filed against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a local country representative, were the first of many to come against the world's largest oil traders. Vitol SA, Glencore PLC and Mercuria Energy Group are also under investigation in Brazil.

Reuters December 15, 2018 00:05:28 IST
Brazil prosecutors charge former Trafigura executives with corruption

Brazil prosecutors charge former Trafigura executives with corruption

SAO PAULO (Reuters) - Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1.5 million in bribes to employees of Brazil's state-run oil company Petroleo Brasileiro.

Prosecutors said in a written statement that the charges filed against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a local country representative, were the first of many to come against the world's largest oil traders. Vitol SA, Glencore PLC and Mercuria Energy Group are also under investigation in Brazil.

(Reporting by Brad Brooks; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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