SAO PAULO: Brazilian police raided the headquarters of the state-controlled power company Companhia Energetica de Minas Gerais, known as Cemig, on Thursday, according to a police statement.
The police said they were investigating the alleged embezzlement of 40 million reais ($10.5 million) out of Cemig in a corruption scheme that involved two subsidiaries, Renova Energia SA and Casa dos Ventos.
The country’s internal revenue service told journalists the case involved a complex money laundering scheme. Shares in Cemig were down 2.6 percent, at 14.27 reais, in late morning trading.
Prosecutors alleged that the scheme benefited five to six people, among them executives of Cemig and construction conglomerate Andrade Gutierrez, but they have not found any politicians involved.
Documents and computers have been seized, according to one source, who requested to remain anonymous and could not comment on the reason for the raid.
Cemig is one of the most important groups in the electric energy segment in Brazil, as it owns or has stakes in more than 173 companies and 15 consortia. An open capital company controlled by the Government of the State of Minas Gerais and has 127,000 shareholders in 44 countries. Its shares are traded on the São Paulo, New York and Madrid stock exchanges.
