Credit Suisse finds no wrongdoing by ex-banker linked to Brazil probe

Credit Suisse Group AG said an internal investigation found no evidence that a former employee, Sérgio Firmeza Machado, used his position at the bank to help his father funnel illicit campaign donations to Brazilian politicians as part of a sweeping corruption scandal.

Firmeza Machado’s father Sérgio, a former senior executive at state oil firm Petróleo Brasileiro SA , has told prosecutors he helped raise at least 100 million reais ($29 million) in legal and illegal funding for political parties as head of Transpetro SA, the company’s ship leasing and gas transport unit, between 2003 and 2015.

The older Machado avoided jail after signing a plea deal in the so-called “Operation Car Wash” probe, which is investigating political kickbacks, money-laundering and graft at state firms that began in 2003.

The banker and his two brothers also cut similar plea deals, helping shed light on how their father funneled payments to ruling coalition parties and senior politicians.

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