{"id":35653,"date":"2015-05-05T08:57:34","date_gmt":"2015-05-05T12:57:34","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35653"},"modified":"2015-05-05T08:57:34","modified_gmt":"2015-05-05T12:57:34","slug":"when-the-problems-will-end-for-petroleo-brasileiro-petrobras-sa-adrnysepbr-a","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/when-the-problems-will-end-for-petroleo-brasileiro-petrobras-sa-adrnysepbr-a-35653","title":{"rendered":"When The Problems Will End For Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR.A)?"},"content":{"rendered":"<p style=\"text-align: justify;\">The ongoing measures and recent setbacks for prosecutors at <strong>Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR.A)<\/strong> <a href=\"http:\/\/finance.yahoo.com\/news\/stumbling-blocks-emerge-brazil-prosecutors-203625096.html\">indicate<\/a> that it won\u2019t be easy for them to win the needed convictions. The Supreme Court\u2019s verdict to release nine executives of construction companies and take them under house arrest minimizes the probability of prosecutors convincing them to finalize plea bargain deals.<\/p>\n<p style=\"text-align: justify;\"><strong>The case<\/strong><\/p>\n<p style=\"text-align: justify;\">These are the executives that are suspected of giving bribes in the corruption scandal. The verdict to stop some new depositions, imply defense attempts to make holes in the probe, often by highlighting procedural concerns, have started to bear fruit. Legal experts anticipate more conviction in the trial in which former executives at Petroleo Brasilerio and some of the suppliers are charged of inflating the total value of service contracts and directing the surplus amount into personal accounts and to political parties.<\/p>\n<p style=\"text-align: justify;\"><strong>The charges<\/strong><\/p>\n<p style=\"text-align: justify;\">President Dilma Rousseff is also suspected to be involved in the matter. She is not being investigated but definitely her ratings have deteriorated due to scandal. It is expected that economic fallout from the probe will lead Brazil into recession in 2015. Prosecutors say witness testimony and bank records reflect at least 2.1 billion reais was misused. The investigation has already resulted in 97 accusations. The list includes four former Petroleo Brasilerio executives, the Treasurer of Workers\u2019 Party and the senior engineering executives.<\/p>\n<p style=\"text-align: justify;\"><strong>The highlights<\/strong><\/p>\n<p style=\"text-align: justify;\">As per the report, the first eight convictions were reported last month, including a money market dealer and a former Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR.A) executive, who were sentenced to three years imprisonment and one year of house arrest, respectively. However, it is believed that the prosecutors might find it hard to verify the charges against the other people involved, and get the convictions. It is primarily due to the way corruption is handled in Brazil. The Supreme Court denied federal judge argument that suspects can commit severe crimes unless they were confined.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ongoing measures and recent setbacks for prosecutors at Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR.A) indicate that it won\u2019t be easy for them to win the [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":19528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6038,11389],"stock_ticker":[],"class_list":["post-35653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysepbr-a","tag-petroleo-brasileiro-petrobras-sa-adrnysepbr-a","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>When The Problems Will End For Petroleo Brasileiro Petrobras SA (ADR)(NYSE:PBR.A)? 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