Powerful Brazil CEO arrested in Petrobras graft probe

Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. Police also apprehended Otavio Marques Azevedo, CEO of Andrade Gutierrez, Brazil's second-largest builder, as the probe into corruption at Petrobras spread to the highest level of Brazilian business. Odebrecht, Azevedo and other top executives arrested in Sao Paulo were driven to the airport in a van and flown to the southern city of Curitiba, where Brazil's largest-ever corruption scandal is being investigated.

Powerful Brazil CEO arrested in Petrobras graft probe source: http://finance.yahoo.com/news/powerful-brazil-ceo-arrested-petrobras-165154259.html