Decal do Brasil co-founder Mariano Marcondes Ferraz was found guilty on corruption charges and sentenced to over 10 years in prison on Monday for bribing a former executive at state-run oil company Petroleo Brasileiro to win contracts for Ferraz’s own firm.
Judge Sergio Moro found Ferraz guilty of paying $868,450 to Petrobras’ ex-director of refining and supply, Paulo Roberto Costa, to renew at inflated prices contracts Decal do Brasil had with Petrobras to provide tanking and docking services at the Port of Suape in northeastern Brazil.
Brazil Energy Insight 
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