Kenneth Rapoza – Forbes, 3/22/2015
Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling $98 billion worth of the Brazilian state oil company’s bonds to American investors.
Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal.
Petrobras is currently in the middle of its worst, and most embarrassing moment in its history. A massive corruption scandal involving its construction partners and ruling party politicians is threatening to take down members of congress. Last weekend, hundreds of thousands of Brazilians took to the streets in protest against Petrobras and the Workers’ Party. Some called for the impeachment of president Dilma Rousseff.
Brazil Portal 