Petrobras ex-manager sentenced in corruption probe

Nestor Cervero, former international director of Brazil"s state-run oil company Petrobras Image copyright Reuters

A former Petrobras executive was sentenced in Brazil to five years in prison for money laundering.

Federal Judge Sergio Moro said prosecutors' evidence suggested Nestor Cervero spent bribes on an apartment in Rio de Janeiro.

Cervero is the second Petrobras executive to be convicted amid an ongoing investigation.

He was fired in 2014 and arrested in January.

More than 100 people have been indicted and 50 politicians are under investigation for taking bribes.

Paulo Roberto Costa, former Petrobras director of refining and supply, was sentenced to seven and a half years in prison last month. He signed a plea bargain agreement with prosecutors and will serve one year, under house arrest.

The authorities have accused former Petrobras executives and a handful of engineering firms of inflating the value of service contracts and banking the excess funds.

Cervero's lawyer, Edson Ribeiro, denied the charges at the time and did not immediately respond to a request for comment, according to the Reuters News agency.

Cervero can still appeal.

Last month Petrobras took a $2bn (£1.3bn) charge for costs related to corruption and published accounts for last year showing an overall loss of $7.2bn.

The company's results also bore an impairment charge of $14.8bn reflecting the decreased value of its assets.

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