The US Federal Bureau of Investigation had been investigating on trading firm, Vitol’s top two US executives, in connection with a bribery scheme linked to dealings with much-scandalized Brazilian Petroleo Brasileiro SA, at least two sources with direct knowledge regarding the issue unveiled on Wednesday, the 13th of February.
According to the spokesman familiar with the matter, the Houston based head of Vitol in US, Mike Loya, and the company’s Chief for Caribbean and Latin American operation, Antonio Maarraoui, had been under FBI investigation.
In fact, during the investigation on Brazilian Petrobras, the Brazilian Prosecutors had previously said that these two executives had direct tie-up and knowledge of a Vitol scheming with Petrobras. Following the reveal of investigation, the World’s largest independent oil trader, Vitol, headquartered in London said that they had a zero-tolerance policy for corruption and bribery, meanwhile, the accused pair, Loya & Maarraoui, did not respond while being asked for comments.
Nonetheless, the media relations office of Federal Bureau of Investigation had been quoted saying an e-mailed statement that they could neither confirm nor deny the existence of the investigations. Despite Vitol’s kickback scheme in Petrobras, Vitol’s US executives were not charged in Brazil, however, it was yet to be revealed whether they had been charged in the United States.