Category: EFG Bank

Walter Faria snared by his Swiss accounts

Brazil’s Lavo Jato (Operation Car Wash) investigation has claimed another success with the arrest of Walter Faria, CEO of the country’s second largest brewing company, Petropolis Group. Faria is accused of laundering more than 80 million francs for the Odebrecht account between 2006 and 2014 as part of a vast system of corruption orchestrated by the specially created “department of structural …

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PDVSA: US investigates embezzlement of 4.5 billion dollars via Switzerland

In March 2018, the United States Department of Justice (DOJ) sent a request for legal assistance to Switzerland in connection with the PDVSA scandal. Stemming from that request, the Federal Supreme Court has revealed that the American investigation covers the misappropriation of more than 4.5 billion dollars “mainly through accounts opened in Switzerland”. In a decision made public on May 27, …

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