Brazil's Petrobras to release audited financial earnings

AP News
Posted: Apr 17, 2015 3:48 PM

SAO PAULO (AP) — Brazil's troubled state-owned oil company has said it will reveal its estimate on how much it lost in a sweeping kickback scheme when it releases an audited report of its financial earnings from last year's third and fourth quarters.

A statement released by Petrobras late Thursday said the results would be released on Wednesday.

Release of the audited results has been delayed by the investigation into a kickback-corruption scheme embroiling the company.

Prosecutors say big construction and engineering firms paid at least $800 million in bribes and other funds in return for inflated contracts with Petrobras. Part of that money allegedly went to the governing Workers' Party and other parties for political campaigns.

Former Workers' Party treasurer Joao Vaccari Neto was arrested this week and charged with corruption and money laundering in connection with the scheme. On Friday, his sister-in-law turned herself in to the police.

Marice Correa de Lima faced an arrest warrant as part of an investigation into irregularities surrounding the purchase and sale of an apartment, an operation that prosecutor Carlos Fernando dos Santos told reporters involved money laundering.