Exclusive: FBI investigating top Vitol executives in Americas

0
53
© Reuters. FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities building in Geneva


© Reuters. FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities building in Geneva

TedsWoodworking Plans and Projects

By Brad Brooks

RIO DE JANEIRO (Reuters) – The FBI is investigating trading firm Vitol’s top two executives in the Americas in connection with a Brazil bribery case involving deals with Petroleo Brasileiro SA, two sources with direct knowledge of the matter told Reuters.

Mike Loya, Houston-based head of Vitol in the United States, and Antonio Maarraoui, the company’s head for Latin American and the Caribbean, are under investigation by the U.S. law enforcement agency, the sources said, speaking on condition of anonymity. Brazilian prosecutors previously said that the pair had direct knowledge of a Vitol kickback scheme with Petrobras.

Vitol, the world’s top independent oil trader, said it has a zero tolerance policy for bribery and corruption. Neither Loya nor Maarraoui responded to e-mail requests for comment.

John Marzulli, a spokesman for U.S. Attorney for the Eastern District of New York Richard Donoghue, on Wednesday declined to confirm or deny that an investigation into the men is underway by the office. The FBI did not respond to requests for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here