In 2014, an investigation began into allegations of corruption at the state controlled oil company Petrobras. Allegedly a number of top executives accepted bribes in return for awarding contracts to construction firms at inflated prices
The Libor is an average interest rate calculated through submissions of interest rates by major banks in London. The case arose when it was discovered that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were