Petrobras Case Study

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D.Long-existing operational issues

Petrobras directors who received kick-backs of millions of dollars in to their secretive bank accounts, later used them to bribe the politicians who had appointed them in to these positions. By this way millions of dollars of tax payers money was stolen and used in political campaigns in order to be elected again. But it wasn’t only the politicians who benefited from this corruption, everyone had connections in this scheme was bribed and received money, expensive gifts, such as Rolex watches, artworks, and wines, etc.. (Watts, 2017)

Petrobras was also at the centre of Brazil’s politics. During the 2003-2010 presidency of the Workers’ Party leader Lula da Silva, offered executive positions to his allies and help them benefit from this corruption in return for political alliance. As the Car Wash investigation was to prove, if you could unravel the secrets of this company, you would unravel the secrets of the state. (Watts, 2017)

E. Badnews ignored/surpressed by management

Former president of Brazil Ms. Rousseff was removed from office on 31 August 2016 for breaking fiscal laws but while Ms Rousseff was on the Petrobras …show more content…
That trial began on August 25th . When Rousseff appeared before the Senate on August 29th , she claimed again that in illegally channeling the state’s money she had done nothing that previous presidents had not already done, and she defended herself by saying that she was the one who had allowed the Operation Car Wash investigation to proceed and expand by which whole corruption scandal could come out to public. However, on August 31 the Senate voted 61–20 to convict Rousseff and to remove her from office permanently. Temer would be serving as presidentaduring the rest of her presidency period until January 2019. (Sotero,
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