Friday, December 25, 2015

Former Petrobras Executive Sentenced to Five Years in Prison

Latest: Corruption and Money Laundering.
Nestor Cerveró, former director of international operations at Petrobras, speaks earlier this month during a session of a parliamentary commission investigating allegations of corruption.



RIO DE JANEIRO—A former high-ranking executive at Brazil’s state-run oil firm Petroleo Brasileiro SA was sentenced to five years in prison Tuesday, the most severe punishment yet in a widespread corruption scandal that has rattled the country’s political and industrial elite.
Nestor Cerveró, Petrobras’ former director of international operations, was convicted of money laundering and sentenced to five years in prison and fined 543,000 reais, according to a federal-court decision.
Mr. Cerveró was the director of Petrobras’ international operations from 2003 to 2008 and later became the chief financial officer at Petrobras’ fuel-distribution subsidiary, a post from which he was fired in March 2014.
Mr. Cerveró’s lawyer, Edson Ribeiro, said they would appeal the sentence “immediately.” Last year, Mr. Cerveró told a congressional committee looking into corruption at Petrobras that he had never taken bribes and wasn’t aware of the alleged corruption scheme.

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