Petrobras CEO, Maria das Graças Foster, was forced to step down on Wednesday after an investigation discovered 23bn reais ($8.9bn) of suspect payments, bribes and kickbacks to politicians.
Foster is not accused of wrongdoing, but she is accused of ignoring tip-offs about the money being siphoned off for executives and politicians.
Recently, Petrobras were forced to delay the release of audited financial results because of uncertainty about the amount of write-offs. PwC, the company’s external auditor, has refused to sign the accounts because of the lack of clarity.
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