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Report: Brazil Probes 13 Banks for Schahin, Petrobras Operations

Brazil's federal tax authority and prosecutors are investigating 13 foreign and local banks for possible financial crimes intermediating loans to Brazilian engineering conglomerate Grupo Schahin, newspaper O Estado de S. Paulo reported Monday. The banks under investigation include Itaú BBA — the investment-banking unit of Itaú Unibanco Holding SA, — Banco Bradesco SA, Banco Santander SA, HSBC Holdings Plc, Deutsche Bank AG, Banco Votorantim SA and other smaller Brazilian...

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