Brazil’s Petrobras Trial Date Set, As U.S. Pension Funds Seek ‘Tens of Billions’ In Losses

Kenneth Rapoza – Forbes, 05/26/2016

Brazil’s oil company Petrobras will finally get its day in a U.S. court on Sept. 19 in a trial that pits 18 former executives and 13 investment banks, including J.P. Morgan Securities, against U.S. and U.K. investors. Claimants are seeking “tens of billions of dollars” in losses.

The company is the centerpiece in what has become Brazil’s crime of the century. The scandal involving contract rigging, bribery and money laundering recently brought down a sitting president and promises to devour a chunk of Brazil’s career politicians in criminal probes.

“We are seeking multiple tens of billions of dollars,” says lead counsel Jeremy Lieberman of Pomerantz, the New York law firm leading the charge against Petrobras. “Not only are we challenging company statements on how it engaged in this bribery scheme and inflated its assets, we are saying that Petrobras’ claim that it lost about $2.5 billion to fraud is wrong. It’s a whole lot more than that.”

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‘Mass rape’ video on social media shocks Brazil

BBC Brasil, 05/27/2016

Brazilian police are hunting more than 30 men suspected of raping a teenage girl in Rio de Janeiro, and of putting video of the attack on social media.

The girl, 16, believes she was doped after going to her boyfriend’s house on Saturday and says she woke up in a different house, surrounded by the men.

Arrest warrants have been issued, including one for the boyfriend.

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In Brazil’s political crisis, a powerful new force: evangelical Christians

— As he struggles to build support for his presidency, Brazil’s new leader, Michel Temer, has been dogged by the kind of character issue that pollsters refer to as “a strong negative.”

Temer, rumor has it, is a devil worshiper.

The origins of this falsehood are unclear. Temer, 75, a longtime politician, is a Christian of Maronite Lebanese descent. But the rumors have inflicted enough damage that Temer turned to prominent evangelical pastors for help. They encouraged him to make a video appealing for evangelicals’ support.

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