Brazilian authorities processing executive managers in money laundering probe

Following the Odebrecht scandal in which millions of dollars were paid to different eating American politicians to illegally obtain government and infrastructure contracts, now entities processing such corrupted payments are being investigated.

The bribery scheme was facilitated by a number of local banks moving money into offshore companies accounts in order to hide the illegal payments.

As per the reported charges, the bank actively cooperated with the criminals by creating an easy method to complete payments, including fictitious contracts.

In addition to the charges, several seizure and warrant orders were produced to facilitate the search of evidence.

According to the lead prosecutor statement, the operation search to : “hold accountable agents in the financial and banking sectors who have allowed millions of reals to be laundered and paid as bribes.”



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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