RSS   Newsletter   Contact   Advertise with us
Post Online Media
Brazil   The recovered funds

Prosecutor General's Office to return $198.7 million to Petrobras

PetrobrasThe Prosecutor General's Office announced that it would be returning R$ 653.9 million ($198.7 million) to state-run oil company Petrobras.

Article continues below

READ MORE Rosneft, Bashneft demand $1.9 billion from AFK Sistema

According to the Prosecutor's Office, it was the largest amount of money ever to be recovered in a criminal investigation.

What made the reimbursement possible was the collaboration of construction firms Odebrecht and Andrade Gutierrez with investigators, as well as the application of leniency agreements.

The Prosecutor General's Office has championed the recovered funds to argue in favor of the agreements, which have been criticized by some legal professionals, as well as segments of civil society.

This is the tenth time funds have been recovered since May of 2015, when the first restitution took place. After this latest restitution, funds recovered have totalled approximately R$ 1.475 billion ($448 million).

According to the Prosecutor's Office, the amount is equivalent to just 13% of the R$ 10.8 billion ($3.28 billion) expected to be recovered through the 163 plea-bargain agreements, as well as the 10 leniency agreements, that have been signed.

Among those present at the event were Petrobras CEO Pedro Parente, and prosecutor Deltan Dallagnol, as well as representatives from the Judiciary, the Federal Police and the Department of Federal Revenue.

What to read next

We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy