Share

Ex-Petrobras official gets a 5-year jail sentence

Sao Paolo - A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe.

Federal Judge Sergio Moro said there was ample evidence to support charges by prosecutors that the former director, Nestor Cervero, used bribe money stolen from the company to buy a luxury apartment in Rio de Janeiro.

Cervero was fired from Petrobras, as the company is known, in 2014 and arrested in January as he stepped off a plane from Europe. He is also suspected of receiving bribes in exchange for awarding drilling ship contracts.

The massive kickback scandal has paralysed Petrobras' infrastructure plans and undermined President Dilma Rousseff's political standing. More than 100 people have been indicted and 50 politicians are under investigation for taking bribe money.

Paulo Roberto Costa, former Petrobras director of refining and supply, was sentenced last month to seven years and six months in prison but will serve only one year of house arrest because he signed a plea bargain deal with prosecutors.

Moro said Cervero's sentence should be in prison initially, leaving open the possibility that some of it could be completed under house arrest.

Prosecutors have accused former Petrobras executives and two dozen engineering firms of inflating the value of service contracts and funnelling the excess funds into their own bank accounts and to political parties, a graft scheme they believe moved more than $2bn over a decade.

Cervero's lawyer, Edson Ribeiro, denied the charges at the time and did not immediately respond to request for comment on Tuesday.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.08
+0.4%
Rand - Pound
23.61
+0.9%
Rand - Euro
20.33
+0.3%
Rand - Aus dollar
12.25
+0.4%
Rand - Yen
0.12
+0.3%
Platinum
942.60
-0.8%
Palladium
1,023.50
-0.6%
Gold
2,394.84
+0.7%
Silver
28.77
+1.9%
Brent Crude
87.11
-0.2%
Top 40
67,314
+0.2%
All Share
73,364
+0.1%
Resource 10
63,285
-0.0%
Industrial 25
98,701
+0.3%
Financial 15
15,499
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders