Corruption Scandal at Brazil’s Oil Giant Petrobras – by Rosaliene Bacchus

Three Worlds One Vision

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On January 1, 2015, Brazilian President Dilma Rousseff began her second term marred by the corruption scandal at Petróleo Brasileiro S.A. or Petrobras, the state-run oil giant and largest company in the nation. During her address before the National Congress, President Dilma affirmed her commitment to “rigorously investigate all the wrong done and strengthen [Petrobras] even more… and know how to punish [those involved], without weakening Petrobras, or diminishing its importance for the present and the future.”

The Petrobras corruption scandal erupted in March 2014 with the Federal Police money-laundering sting, codename Operation Car Wash, executed across six states and the Federal District (Brasília). They seized R$5 million (US$1.9 million) in cash, 25 luxury cars, jewelry, paintings, and weapons. Among the seventeen people arrested was Alberto Youssef, a black-market money dealer and suspected leader of the scheme.

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