Petrobras (corruption scandal)

The Petrobras corruption scandal involved a large Brazilian state-controlled oil company, Petrobras, where a cartel of suppliers and executives colluded to inflate prices and siphon off billions of dollars. Bribery schemes flowed to political leaders, enabling increased kickbacks and unauthorized gains. The scandal, uncovered in 2014, exposed widespread corruption at high levels, leading to criminal charges, political fallout, and economic disruptions in Brazil. It highlighted systemic weaknesses in oversight and governance, raising global awareness of corruption risks in resource-rich nations.