Ex-Petrobras Director Sentenced to Five Years for Money Laundering

05/27/2015 - 08h55

Ex-Petrobras director Nestor Cerveró was sentenced to five years in prison for money laundering on Tuesday (26) by federal judge Sergio Moral, who is overseeing the Lava Jato case. Cerveró will serve at least the beginning of his sentence under a closed regime. He may appeal against the decision.

Cerveró was accused by the Public Prosecutor of acquiring a luxury apartment in Rio de Janeiro with money he had received in bribes while at Petrobras. The property, located in the upmarket neighborhood of Ipanema, is valued at US$2.4 million (R$7.5 million).

It is registered in the name of the company Jolmey do Brasil, which according to the Public Prosecutor, belongs to Cerveró. Cerveró allegedly received bribes as part of Petrobras contracts and laundered the money in Uruguay, ultimately transferring it to the offshore company Jolmey S/A.

Jolmey do Brasil bought the Ipanema apartment in 2009, renovated it and then rented it to Cerveró for US$1160 (R$3650) a month, which is below the market rate. Moro also sentenced Cerveró to a fine of 150 days at the value of five minimum wages.

The judge justified the custodial sentence arguing that the true values involved remain unknown, and as such, there is a risk of "new instances of money laundering that prevent appropriation of the funds by the authorities, signifying a risk to public order."

When the accusations were made, Cerveró's lawyer, Edson Ribeiro, denied the charges, arguing that Cerveró was not the owner of any of the companies mentioned by prosecutors.

Cerveró was arrested in Rio in January, since which time he has been in custody at the headquarters of the Federal Police in Curitiba.

Translated by TOM GATEHOUSE

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	Sérgio Lima/Folhapress
	Ex-Petrobras director Nestor Cerveró was sentenced to five years in prison for money laundering