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Brazil arrests powerful Odebrecht CEO in Petrobras probe
Friday, June 19, 2015 9:11
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SAO PAULO (Reuters) – Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, ensnaring the most high-profile executive to date in the corruption investigation at state-run oil firm Petrobras.
In morning raids that netted 12 arrests in four states, police also apprehended Otavio Marques Azevedo, head of Andrade Gutierrez, the second-largest Brazilian construction firm Andrade Gutierrez [AGIS.UL].
A lead prosecutor, Carlos Fernando dos Santos Limas, said he had “no doubt” Odebrecht and Andrade Gutierrez led what he called a “cartel” that overcharged Petrobras for work and passed on the excess funds to executives and politicians …. http://news.yahoo.com
Source: http://luismmx.blogspot.com/2015/06/brazil-arrests-powerful-odebrecht-ceo.html
