Brazil Convicts First Engineering Exec in Petrobras Scandal

Three executives of Brazil's Camargo Correa group were convicted on money laundering, corruption and other charges on Monday, the first construction-industry executives to be sentenced in a giant price fixing and bribery scandal involving state-run oil company Petrobras.

The convictions were handed down by Judge Sergio Moro of Brazil's Federal Court in Curitiba, Brazil, the court said in its ruling.

The convicted included Dalton dos Santos Avancini, chief executive officer of Camargo Correa Construções e Participações SA, João Ricardo Auler, chairman of the board of directors of Camargo Correa Construções, and Eduardo Hermelino Leite, a senior executive of Camargo Correa Construções, the ruling said.

The convictions were the result of charges stemming from efforts to fix the bidding process for contracts at Petroleo Brasileiro SA, as Petrobras is formally known, the ruling said.