Petrobras Corruption Scandal

The Escándalo de corrupción en Petrobras, also known as the Petrobras scandal, was a massive corruption scheme that rocked Brazil in the early 2010s. The scandal involved the state-owned oil company Petrobras, which was founded in 1953 and is one of the largest companies in Latin America. At its peak, Petrobras was responsible for producing over 2 million barrels of oil per day, making it a vital component of Brazil's economy. The scandal began in 2014, when it was discovered that Petrobras had been involved in a massive corruption scheme that dated back to the 1990s. The scheme involved bribes and kickbacks being paid to politicians and high-ranking executives in exchange for lucrative contracts and favorable treatment. The scandal was so widespread that it implicated several high-ranking officials, including the former President of Brazil, Luiz Inácio Lula da Silva. The scandal led to widespread outrage and calls for reform, and it ultimately resulted in the arrest and conviction of many individuals involved. The scandal also had significant economic and political implications for Brazil, and it remains one of the most significant corruption scandals in the country's history.