The foundation is suing Petrobras on its own, suggesting believe may be the best way to recover most of its losses in receipts of Petrobras shares traded in the United States (Pascal Guyot / AFP / SEE)
The Bill & Melinda Gates Foundation filed a lawsuit against us to recover losses arising from the oil company's shares billionaire corruption scandal in the state oil investigated by Operation Lava jet.
According to the complaint, registered on Thursday night in federal court in Manhattan, "bribery scheme and money laundering" caused the Gates and the other author Foundation, WGI Emerging Markets Fund LLC, a loss of tens of millions of dollars invested the oil. "In fact, the scandal still seems to increase every day, as more criminals, more prisons and more secret bank accounts are discovered," said the action.
Petrobras is facing a slew of processes in the States, claiming years of corruption, including bribes, which would have inflated the value of their stocks and bonds on over 98 billion dollars. Created in 2000 by Microsoft Corp, the foundation focuses on improving education and health and poverty reduction.
The foundation is suing Petrobras on its own, suggesting believe may be the best way to recover most of its losses in receipts of Petrobras shares traded in the US (ADRs). The Brazilian subsidiary of the oil company auditor PricewaterhouseCoopers (PwC) is also a defendant.
Sought, Petrobras and PwC had no immediate comment on the report. Lawyers Foundation did not immediately respond to requests for comment. Westwood Global Investments LLC, a company based in Boston, manages investments for the foundation and for the WGI background.
The market value of Petrobras, which was nearly $ 300 billion for seven years, fell more than 90% since then. In April, the oil company announced losses of 6.2 billion reais for corruption and reduced by more than 44 billion reais the value of its assets.
The foundation headquartered in Seattle is one of the world's largest charitable organizations with donations of 41.3 billion dollars.
