Brazil prosecutors charge former Trafigura executives with corruption

SAO PAULO (Reuters) – Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura [TRAFGF.UL] for allegedly paying at least $1.5 million in bribes to employees of Brazil’s state-run oil company Petroleo Brasileiro.

Prosecutors said in a written statement that the charges filed against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a local country representative, were the first of many to come against the world’s largest oil traders. Vitol SA [VITOLV.UL], Glencore PLC and Mercuria Energy Group are also under investigation in Brazil.

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