GE’s Latin America CEO arrested for fraud in sprawling investigation
GE emphasises it is not the target of the investigation and is co-operating with authorities
Rio de Janeiro — Brazilian police arrested a senior General Electric (GE) executive on Wednesday, as part of a sprawling investigation into fraud in medical equipment tenders overseen by health authorities in the state of Rio de Janeiro, police and prosecutors said. In addition to the arrest of GE’s CEO for Latin America, Daurio Speranzini Jr, prosecutors said federal police were carrying out 21 arrest warrants as part of the investigation, which concerns a trauma institute known as Into and involves some 37 companies. The investigation, code-named Operation Resonance, is the latest fraud and corruption probe in Brazil, where the arrest of high-ranking political and business figures has become a matter of routine, particularly in Rio de Janeiro. Speranzini was previously the head of Philips Medical Systems in Brazil. Frederik Knudsen, who prosecutors said was a sales supervisor at Philips in Brazil during the period under investigation, was also among the people police are looking t...
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