Brazil: Avianca’s majority shareholders arrested in Brazil on accusations of corruption

The majority shareholders of Colombia’s Avianca Holdings, brothers German and Jose Efromovich, were arrested in Brazil by the country’s federal police on Wednesday as part of the sprawling Car Wash corruption probe, authorities said.

Prosecutors have accused the brothers of laundering money and bribing public officials in order to land ship-building contracts with Transpetro, the logistics unit of Brazilian oil company Petrobras. The accusations are unrelated to Avianca.

German Efromovich, formerly the chairman of Avianca Holdings, did not respond to a text message seeking comment. Jose Efromovich could not be reached for comment.

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