All posts tagged: Government

Brazilian Government Corruption Probe Fallout

Corruption probes that began in 2014 have reached the highest levels of the Brazilian government and corporate elite, implicating President Michel Temer, former presidents, and dozens of cabinet officials and senators. Operacao Lava Jato (Operation Car Wash) and overlapping investigations have led to prison sentences for top executives and politicians, mass layoffs, and billions of dollars paid in fines. The scandals have complicated efforts to revive the economy amid its largest downturn in more than a century. The country’s biggest corporations have faced numerous setbacks, and the fallout from the scandals is expected to reverberate through Brazil’s 2018 general election. Millions of Brazilians have demonstrated in favor of the investigations, and many hope that shedding light on the scandals will end the widespread corruption that has plagued their country. Launched Lava Jato in 2014 Federal prosecutors led by Judge Sergio Moro launched Lava Jato in March 2014, after the Finance Ministry’s intelligence unit discovered unusual bank transactions involving the state-owned oil company Petrobras. They suspected that Petrobras was accepting bribes from firms, including the construction giant …