Petrobras-Linked Money Laundering Probe Spreads to Banks
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A $4.4 billion money-laundering probe linked to state-run Petroleo Brasileiro SA is spreading to financial institutions as prosecutors investigate whether they met compliance requirements.
Court documents cite units of banks including New York-based Citigroup Inc., Madrid-based Banco Santander SA and London-based HSBC Holdings Plc, as well as Sao Paulo-based Itau Unibanco Holding SA and Osasco, Brazil-based Banco Bradesco SA as holding accounts or executing operations linked to the alleged laundering of 10 billion reais. Banks either declined to comment or said they meet compliance requirements.