Brazil bribery probe hits major builders economy depends upon
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Rio de Janeiro
THE corruption scandal at Petroleo Brasileiro SA (Petrobras) that has spread to Brazil's biggest builders is threatening to derail President Dilma Rousseff's efforts to revive Latin America's largest economy.
The TCU, a federal court that acts as a public-spending watchdog, said it's concerned the probe into an alleged money laundering and bribery scheme dubbed "The Car Wash" could delay infrastructure projects across Brazil. Odebrecht SA, Queiroz Galvao SA, OAS SA and six other builders whose headquarters have been searched or executives arrested hold at least 70 billion reais (S$36 billion) in Petrobras and government contracts, including for the 2016 Olympic Games and hydroelectric dams in the Amazon.
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