Brazil’s Petrobras receives over $100 million via recovered assets, deals

Brazilian state-run Petrobras this week received 425 million reais ($112 million) as a result of leniency deals and recovered assets from parties involved in the country’s sprawling “Car Wash” corruption investigation, the oil firm said on Thursday.

With the funds, Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, has now recovered over 4 billion reais, the firm said in a securities filing. Petrobras, which is at the center of the investigation, considers itself a victim, though many former employees and executives have been shown to be conspirators in corrupt schemes.

Reuters | July 25, 2019

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