Home > Steel News > Latest Steel News > Brazilian...

Brazilian prosecutors say Gerdau executives involved in corruption scandal

Tuesday, 29 August 2017 23:54:16 (GMT+3)   |   Sao Paulo

Brazil’s public ministry, MPF, a body of public prosecutors, has denounced in a lawsuit several former and existing Gerdau executives for the crimes of passive and active corruption as well as money laundering.

The lawsuit, which also accuses 11 lawyers as well as former advisors of the country’s board of tax appeals (Carf), is part of the Zelotes operation, which has been investigating a corruption scheme involving Carf since 2015. Since then, Gerdau has denied any wrongdoing.

MPF said Gerdau paid BRL 40 million in bribes for Carf’s former advisor, José Ricardo Silva, in exchange for the annulment of the company’s debt. Gerdau reportedly has some BRL 4 billion in tax debts with Carf.

The former Gerdau executives supposedly involved in the corruption scandal who were denounced by MPF include Expedito Luz, former legal director; Marco Antonio Biondo Pereira Mattos, former legal consultant; and Raul Fernando Schneider, former accountability consultant.


Similar articles

Brazilian rebar export price stable in four weeks

22 Nov | Longs and Billet

Brazilian rebar export price increases in four weeks

24 Oct | Longs and Billet

Gerdau warns Brazil’s steel sector faces collapse amid surging imports, idle capacities

16 Sep | Steel News

Gerdau workers initiate strike in Brazil

16 Sep | Steel News

Brazil's steel industry is currently facing sustainability challenges

29 Aug | Steel News

Gerdau sells Várzea do Lopes mine, boosts sustainable operations at Miguel Burnier

14 Aug | Steel News

Gerdau improves financial performance in Q2, Brazil investments frozen, focus shifts to Europe

05 Aug | Steel News

Ex-Brazil slab prices remain unchanged from last week

08 Jul | Flats and Slab

Brazil’s Gerdau secures financing for pipeline and scrap recycling project

25 Jun | Steel News

Brazilian rebar export price declines in four weeks

16 Jun | Longs and Billet