Brazil police arrest another former Petrobras executive
Brazil’s federal police have arrested another former Petrobras (PBR +1.8%) executive as part of an investigation into a broader corruption scandal surrounding the company.
Police arrested Jorge Zelada, the company’s director of international operations during 2008-2012; he replaced Nestor Cerveró, who has been convicted of money laundering and sentenced to five years in prison for his role in the widening scandal.
Prosecutors allege Zelada took bribes from suppliers seeking contracts with PBR and hid some of that money offshore; he is the fourth former PBR exec to be arrested on allegations of bid rigging and bribery.
