BRAZIL: GOVERNOR SERGIO CABRAL FLOATED DOZENS OF SHELL COMPANIES IN INDIA

On 17 August, the Economic Times in India reported that he had created dozens of shell companies in India and received $13.24 million in those accounts. The former Rio de Janeiro governor was arrested in November 2016 by the Federal Police of Brazil while investigating alleged corruption involving state-owned oil company Petrobras. It is alleged that registered more than 3,000 companies in 53 countries, including over 60 in India, using a computer system called ‘Bank Drop’ to siphon off bribes received for sanctioning public contracts.

https://economictimes.indiatimes.com/news/politics-and-nation/arrested-governor-of-brazil-sergio-cabral-floated-dozens-of-shell-companies-in-india/articleshow/77584265.cms

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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