Brazil’s securities regulator CMV accused eight ex-executives of the state-operated oil and gas company Petrobras of corruption, after over two years of a thorough investigation, Reuters reported.
As informed, the CVM, Brazilian equivalent to the US Securities and Exchange Commission, imposed accusations to eight people, including two ex-CEOs of the company, related to irregularities in the contracting process for three drill ships.
Investigation, that has started from March 2016, stemmed from Petrobras’ connection to the ‘Car Wash’ scandal, a massive corruption inquiry that has resulted in imprisonment of many executives and politicians.
The corruption concerns executives allegedly receiving bribes in return for awarding contracts to construction firms at inflated prices.