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Brazil recovered $125m diverted through corruption

LatAm   Thanks to accords struck with Switzerland

The Brazilian government last year recovered $124.9 million that had been diverted abroad via corruption.

This is a record figure for the country that came about due to the increase in agreements established with the justice system by some of the figures implicated in the Petrobras scandal

The Justice Ministry’s internal asset recovery department said that the figure was eight times greater than the accumulated amount recovered between 2005 and 2014, when $14.9 million was recouped, the daily Folha de Sao Paulo reported on Sunday.

Department director Ricardo Saadi said that the record was made possible thanks to accords struck with Switzerland, mainly to recover funds diverted as part of the corruption network within the state-run Petrobras.

Some of those accused in the scandal said that bribes for politicians were built into some of the overvalued contracts between Petrobras and the country’s biggest construction firms, but authorities were able to recover $94.6 million of those bribes in 2015.

The figure, Saadi said, could increase in 2016 with new cooperation agreements between various people implicated in the case and the judiciary.


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