Lava Jato Returns US$ 200 Million to Petrobras, the Largest Amount Obtained in a Criminal Investigation

12/08/2017 - 11h35

The Prosecutor General's Office held an event on Thursday (the 7th) announcing that it would be returning R$ 653.9 million (US$ 198.7 million) to state-run oil company Petrobras.

According to the Prosecutor's Office, it was the largest amount of money ever to be recovered in a criminal investigation.

What made the reimbursement possible was the collaboration of construction firms Odebrecht and Andrade Gutierrez with investigators, as well as the application of leniency agreements.

The Prosecutor General's Office has championed the recovered funds to argue in favor of the agreements, which have been criticized by some legal professionals, as well as segments of civil society.

This is the tenth time funds have been recovered since May of 2015, when the first restitution took place. After this latest restitution, funds recovered have totalled approximately R$ 1.475 billion (US$ 448 million).

According to the Prosecutor's Office, the amount is equivalent to just 13% of the R$ 10.8 billion (US$ 3.28 billion) expected to be recovered through the 163 plea-bargain agreements, as well as the 10 leniency agreements, that have been signed.

Among those present at the event were Petrobras CEO Pedro Parente, and prosecutor Deltan Dallagnol, as well as representatives from the Judiciary, the Federal Police and the Department of Federal Revenue.

"I am positive that those who are corrupt do not represent Petrobras", said Mr. Dallagnol, who oversees the Lava Jato task force.

"Congress and the Judiciary need to preserve the orderly implementation of these mechanisms [plea bargain and leniency agreements]", Mr. Dallagnol said.

Mr. Parente stated that Petrobras is "the main victim of a colossal scheme that misappropriated public funds".

Translated by THOMAS MATHEWSON

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