Brazil police investigate bank BTG Pactual, and target Maria das Gracas Foster former Petrobras CEO

Brazil’s federal police on Friday raided the headquarters of Latin America’s largest independent investment bank, Banco BTG Pactual SA (BPAC3.SA), and the addresses of its founder Andre Esteves, federal prosecutors said in a statement.

Maria das Gracas Foster, former chief executive of state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), was also a target, the statement said. The raids were related to the sale of stakes in African oilfields to BTG Pactual, it said.

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