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| Name | Symbol | Market | Type |
|---|---|---|---|
| Petroleo Brasileiro ADR | NYSE:PBR | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.91 | -5.25% | 16.43 | 16.86 | 16.30 | 16.86 | 26,048,446 | 01:00:00 |
From May 2019 to May 2024
SÃ O PAULO—Brazil's federal police have arrested another former executive of state-run energy company Petró leo Brasileiro SA, or Petrobras, as part of an investigation into a broader corruption scandal that has wounded the country's largest company.
Police arrested Jorge Zelada, a former top executive of Petrobras, early Thursday at his home in Rio de Janeiro. Mr. Zelada was arrested on suspicion of corruption and money laundering, said a police spokesman. Mr. Zelada's lawyer couldn't be immediately reached for comment.
Mr. Zelada was director of international operations of Petrobras from 2008 to 2012. He replaced Nestor Cerveró , who was convicted in May of money laundering and sentenced to five years in prison for his role in the widening scandal.
Mr. Zelada is the fourth former Petrobras executive to be arrested on allegations of bid rigging and bribery.
Brazilian authorities last year uncovered what they allege is a decadelong corruption scheme that has touched the highest levels of business and government. Prosecutors allege the nation's largest construction firms inflated the price of Petrobras contracts by billions of dollars, kicking back a portion of their ill-gotten gains to company insiders and politicians. Some of the accused have denied the allegations, and some are cooperating with prosecutors. Petrobras has said it is a victim of the scheme and is cooperating with authorities.
Mr. Zelada's arrest is part of the 15th phase of the so-called Operation Car Wash investigation. Authorities will hold a press conference later Thursday to unveil more details of the continuing operation.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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