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Swiss Banks Probed Over Brazil’s ‘Carwash’ Bribery Scandal

  • Swiss AG, cooperating with Brazil, is reviewing money flows
  • AG froze $400 million from banks with suspected ties in 2015
Downtown Zurich, Switzerland.
Photographer: Alessandro Della Bella/Bloomberg
Updated on

The Swiss attorney general’s office is shifting its focus to banks operating in the country as it continues to investigate Brazil’s bribery scandal. Plea deals with individual executives have provided fresh insights into how the illicit funds flowed through the financial system.

Attorney General Michael Lauber said in an interview that he’s reviewing how Swiss banks were used to funnel bribes to officials at the state-owned oil producer Petroleo Brasileiro SA, known as Petrobras, and looking at whether those banks were criminally negligent. In the interview last week in Bern, Lauber declined to name any banks under investigation or provide a time frame for any action other than to say “the sooner the better.”