Swiss, Brazil intensify efforts to unravel Petrobras affair

ZURICH (Reuters) – Crimefighters in Switzerland and Brazil pledged to intensify cooperation to eliminate the sprawling corruption case connected with state oil firm Petrobras where around 700 million Swiss francs ($701 million) remain frozen in Switzerland.

Switzerland has to this point returned roughly 365 million Swiss francs ($365.6 000 0000) to Brazil linked to Petrobras and construction firm Odebrecht, the Swiss Office with the Attorney General (OAG) said , including 9 million francs in March.

Around 70 related criminal proceedings are under way in Switzerland, a couple that are scrutinizing Swiss financial groups, the OAG said after Swiss Attorney General Michael Lauber and Brazilian Prosecutor General Raquel Dodge met in Brasilia on Monday.

"Both the counterparts signed a joint declaration reaffirming their dedication to continue and intensify their cooperation," the OAG said inside a statement.

More than 130 businessmen and politicians are convicted in Brazil in the event that, concentrated on political kickbacks and cash laundering at Petrobras and Odebrecht. Ex-Brazilian President Luiz Inacio Lula da Silva is serving a 12-year prison sentence.

Around 15 criminal cases opened in Switzerland are already passed along to authorities in Brazil. The probe also has trapped leading global commodity traders in Switzerland. The Swiss are assisting Brazilian prosecutors investigating alleged bribery and corruption links to Vitol, Trafigura and Glencore (LON:GLEN).