Dirty Oil
Petrobras is embroiled in arguably the greatest scandal in Brazilian history. The story goes something like this: At its peak, Petrobras was spending nearly $20 billion a year on new construction projects. The executives responsible for awarding contracts had formed a cartel with some of Brazil’s largest construction and engineering firms. These firms would decide which one of them would win a contract, and then would add 1-5% more money onto the bid price.