Swill Return Billions in Proceeds of Corruption

business_ethics_highlights_2Banks, billions in oil money, and a giant state-owned resource company. As the saying goes, “follow the money.” >>>

Switzerland returns $120 mn of Brazil corruption money

Swiss judicial authorities said Wednesday they have released US$120 million (RM440.91 million) of frozen funds linked to the devastating corruption scandal at Brazilian state oil giant Petrobras.

“The release of over US$120 million reflects Switzerland’s clear intention to take a stand against the misuse of its financial centre for criminal purposes and to return funds of criminal origin to their rightful owners,” Swiss prosecutors said in a statement.

The funds are the first portion of US$400 million of frozen Brazilian assets linked to Petrobras…..

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