Odebrecht Used Commerzbank, Julius Baer to Launder Money: Welt
Source: BFW (Bloomberg First Word)
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BAER VX (Julius Baer Group Ltd)
CBK GR (Commerzbank AG)
PETR4 BZ (Petroleo Brasileiro SA)
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Marcelo Odebrecht (Odebrecht SA)
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UUID: 7947283
(Bloomberg) -- Marcelo Odebrecht used accounts at Commerzbank and Julius Baer to mask Petrobras transactions, Welt am Sonntag reports, citing verdict against Odebrecht it obtained.
Alert: HALISTER1- Commerzbank account in Vienna belonged to Belize-based shell co. Arcadex
- Money flowed from another account in Lugano, Switzerland, via Vienna to account with Julius Baer in Monaco belonging to shell co. Milzart
- Unclear how much money flowed via Commerzbank account
- In 2009 alone $2m flowed from Lugano to Vienna
- Julius Baer and Commerzbank declined to comment, Welt says
- Spokespeople for Commerzbank, Julius Baer didn’t immediately return calls from Bloomberg outside of business hours
- NOTE: March 8: Odebrecht was sentenced to 19 yrs and four months in jail for crimes including corruption and money laundering
Source: BFW (Bloomberg First Word)
Tickers
BAER VX (Julius Baer Group Ltd)
CBK GR (Commerzbank AG)
PETR4 BZ (Petroleo Brasileiro SA)
People
Marcelo Odebrecht (Odebrecht SA)
To de-activate this alert, click here
UUID: 7947283