Connecticut trader convicted in Petrobras bribery case By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 26 2024
0mins
Source: Investing.com
Conviction of Oil Trader: Glenn Oztemel, a Connecticut oil and gas trader, was convicted for his role in a bribery scheme involving Petrobras, where he paid over $1 million in bribes to secure contracts for two trading companies from 2010 to 2018.
Legal Consequences and Reactions: Oztemel faces multiple charges including money laundering and violating the Foreign Corrupt Practices Act, while his lawyer expressed disappointment in the verdict; related parties, including his brother and another defendant, are also facing legal actions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
