Brazil's former President Michel Temer was arrested on Thursday in an inves...
SAO PAULO/RIO DE JANEIRO - Brazil’s former President Michel Temer was arrested on Thursday in an investigation of alleged graft in the construction of a nuclear power plant, prosecutors said, threatening to delay debate over the government’s ambitious fiscal reforms.
Brazil’s currency slipped 1.4 percent and the Bovespa stock index fell 2.5 percent, as the arrest diverted the attention of Congress just as it was taking up a bill to overhaul the social security system. Brazil’s sweeping “Car Wash” probe has uncovered what U.S. prosecutors called the world’s largest graft scheme, starting with political bribery involving oil company Petroleo Brasileiro SA and spreading to other sectors and public works.
FILE PHOTO: Former Brazil's President Michel Temer arrives for a breakfast with foreign media at Alvorada Palace in Brasilia, Brazil December 6, 2018. REUTERS/Adriano Machado/File Photo In 2016, Othon Luiz Pinheiro da Silva, the former chief executive of state nuclear power company Eletronuclear, was sentenced to 43 years in prison on a corruption conviction.
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