February 4, 2021 Share
A prominent task force of Brazilian prosecutors was officially disbanded Wednesday, marking the symbolic end of an investigative unit initially praised for tackling impunity among the nation’s political and business elite but lately under fire for allegations of bias in its probes.
The “Car Wash” investigation began in March 2014 looking into black market money-changing involving a gas station in Brazil’s capital, Brasilia, but it soon discovered billions of dollars in kickbacks related to construction contracts awarded by state-run oil giant Petrobras. Investigators found much of the illicit funds went to party coffers and politicians’ pockets.
The unit shared its findings with other nations, which spread the anti-corruption reckoning across the region.
Brazil s anti-corruption Car Wash task force ends in gloom sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Mauricio Savarese
FILE - In this May 23, 2017 file photo, masks representing corrupt politicians line the lawn outside the National Congress building, in Brasilia, Brazil. A prominent task force of Brazilian prosecutors was officially disbanded Wednesday, Feb. 3, 2021, marking the symbolic end of âCar Washâ investigative unit initially praised for tackling impunity among the nationâs political and business elite but lately under fire for allegations of bias in its probes. (AP Photo/Eraldo Peres, File) February 03, 2021 - 2:53 PM
SAO PAULO - A prominent task force of Brazilian prosecutors was officially disbanded Wednesday, marking the symbolic end of an investigative unit initially praised for tackling impunity among the nationâs political and business elite but lately under fire for allegations of bias in its probes.
Recovering from a relatively slow start to the year, due in no small part to the global pandemic, the U.S. Foreign Corrupt Practices Act (“FCPA”) Units of the U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) closed the year with a bang. With 32 combined FCPA enforcement actions, 51 total cases including ancillary enforcement, and a record-setting $2.78 billion in corporate fines and penalties (plus billions more collected by foreign regulators), 2020 marks another robust year in the annals of FCPA enforcement.
This client update provides an overview of the FCPA and other domestic and international anti-corruption enforcement, litigation, and policy developments from 2020, as well as the trends we see from this activity. We at Gibson Dunn are privileged to help our clients navigate these challenges daily and are honored again to have been ranked Number 1 in the
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