Date
18 December 2017
João Ricardo Auler, Eduardo Hermelino Leite and Dalton dos Santos Avancini (from left) have been found guilty in a massive bribery and price-fixing scandal. Photo: Internet
João Ricardo Auler, Eduardo Hermelino Leite and Dalton dos Santos Avancini (from left) have been found guilty in a massive bribery and price-fixing scandal. Photo: Internet

Brazil convicts three in Petrobras price-fixing scandal

A Brazilian court has convicted three executives of conglomerate Camargo Correa group on money laundering, corruption and other charges.

They were the first construction executives to be found guilty in a massive price-fixing and bribery scandal involving state-run oil company Petrobras, according to Reuters.

Chairman João Ricardo Auler, chief executive Dalton dos Santos Avancini and senior executive Eduardo Hermelino Leite were convicted of corruption and membership in a criminal organization.

Also, Avancini and Leite were each convicted of 38 counts of money laundering.

The convictions came on the same day the federal police decided to formally charge Marcelo Odebrecht, chief executive of Odebrecht S.A. with complicity in the scandal.

Odebrecht is among the major Brazilian construction and engineering companies accused of fixing contracts to rob billions of dollars from Petrobras, formerly Petroleo Brasileiro S.A.

The money was then kicked back to Petrobras executives and politicians as bribes and campaign contributions, according to prosecutors.

Avancini and Leite each received prison sentences of 16 years and four months and fines of 1.3 million reais (US$406,250).

Auler faces nine years and six months plus a fine of 627,150 reais.

Three others were convicted along with the Camargo Correa executives, all for helping them launder money or by taking part in their criminal organization.

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