by Tina Evaristo
The disclosure last year of what was apparently just a bad business done by Petrobras – the Brazilian semi-public oil company – evolved and became one of the biggest corruption scandal to hit the country after the reinstatement of democracy in 1988. The Brazilian Supreme Court has authorized the investigation of more than 40 politicians, including the speakers of the Chamber and the Senate and a former President. They are all suspects of integrating a large kickback scheme. Parliament is also promising to carry out their own investigation too, politically unbiased and dispassionate according to them. The hearings have already started.
The subject requires a lot of explaining indeed. Apart from Petrobras’ own executives, the corruption ring also included big companies from Brazil, Europe and Asia. The scheme, based on the payment of bribes in exchange for contracts, is supposed to have managed over $ 2,5 billion. Where was the Board of Directors? And the Fiscal Board? What about the Risk Management Committee? There is also the Advisory Committee. Everyone failed to spot the wrongdoings that took place over, at least, one decade.