Brazil’s Federal Police on Wednesday launched the latest stage of a sweeping investigation into corruption at state-controlled firms, with six arrest and 15 search warrants issued in the states of São Paulo and Santa Catarina.
The warrants in the so-called “Operation Carwash” probe involve the suspected use of offshore companies and real estate transactions to launder money from bribery, graft and other offenses, police said in a statement.
According to TV Globo channel, raids were being conducted in São Bernardo do Campo, the political stronghold of former Brazilian President Luiz Inácio Lula da Silva, whose Workers’ Party is involved in the probe.
Engineering firm Grupo OAS SA [OAEP.UL] and cooperative bank Bancoop were among the targets of Wednesday’s raids, the channel said, without saying how it obtained the information.
Brazil Energy Insight 
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