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Former Braskem CEO target of Brazil corruption probe

SAO PAULO (Reuters) - Former executives of Brazilian petrochemical company Braskem have been targeted in the latest phase of the corruption probe known as CarWash, an investigation of politicians and businessmen in connection with bribery and money laundering.

Bernardo Gradin, formerly Braskem chief executive, is a target in this phase of the probe, according a statement from federal prosecutors on Wednesday.

He could not be immediately reached for comment.

According to prosecutors and police, the probe centers on a scheme to bribe government officials in exchange for approval of legislation favoring private interests.

Prosecutors said police on Wednesday are serving arrest warrants and raiding addresses linked to another two suspects in the probe, naming former Braskem legal director Maurício Ferro and lawyer Nilton Serson.

Braskem is a joint venture of Brazilian construction conglomerate Odebrecht SA and state-run oil company Petroleo Brasileiro SA .

Braskem and Petrobras did not immediately return a request seeking comment.

(Reporting by Lisandra Paraguassu in Brasília and Eduardo Simões in São Paulo; EDiting by Steve Orlofsky; Writing by Ana Mano; Editing by Steve Orlofsky)

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