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Wed Feb 13, 2019, 12:40 PM

FBI investigating top Vitol executives in Americas - sources

Source: Reuters

BUSINESS NEWS FEBRUARY 13, 2019 / 10:38 AM / UPDATED 30 MINUTES AGO

Exclusive: FBI investigating top Vitol executives in Americas - sources

Brad Brooks
3 MIN READ

RIO DE JANEIRO (Reuters) - The FBI is investigating trading firm Vitol’s top two executives in the Americas in connection with a Brazil bribery case involving deals with Petroleo Brasileiro SA, two sources with direct knowledge of the matter told Reuters.

Mike Loya, Houston-based head of Vitol in the United States, and Antonio Maarraoui, the company’s head for Latin American and the Caribbean, are under investigation by the U.S. law enforcement agency, the sources said, speaking on condition of anonymity. Brazilian prosecutors previously said the pair had direct knowledge of a Vitol kickback scheme with Petrobras.

London-headquartered Vitol, the world’s biggest independent oil trader, said it has a zero tolerance policy for bribery and corruption. Neither Loya nor Maarraoui responded to requests for comment via email.

John Marzulli, a spokesman for U.S. Attorney for the Eastern District of New York Richard Donoghue, declined to confirm or deny that an investigation into the men is underway by the office.

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Read more: https://www.reuters.com/article/us-brazil-corruption-oil-traders-exclusi/exclusive-fbi-investigating-top-vitol-executives-in-americas-sources-idUSKCN1Q21Z6

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