Officials in Brazil have officially launched an investigation on JPMorgan Chase & Co.'s alleged role in reported bribery and money laundering scheme with Petrobras company in 2011.
On Thursday, Brazil's Senate voted 55 to 22 to suspend President Dilma Rousseff, the first step in bringing an impeachment trial against the controversial, embattled national figure.
Brazilian President Dilma Rousseff has named her predecessor Luiz Inácio Lula da Silva as chief of staff. The appointment prompted protests in Brazilian cities.
Brazilian ex-President Luiz Inacio Lula da Silva faces charges of money laundering for failing to declare luxurious assets, linking him directly to the expansive Petrobras scandal. If charged, Da Silva might bring down his successor, Dilma Rousseff, along with him.
Brazilian court hands down 19-year imprisonment to construction magnate Marcelo Odebrecht who was found guilty of bribing Petrobras officials to gain an advantage over contracts. Politicians, including two Brazilian presidents have also been dragged into the controversy.
Brazil’s Lower House of Congress Speaker Eduardo Cunha will be facing an investigation regarding corruption allegations. He is involved in the huge Petrobras kickback scheme.
