Former Brazilian President Lula Gets 9 Years For Corruption

Former Brazilian President Lula Gets 9 Years For Corruption

Former Brazilian President Luiz Inacio Lula da Silva was convicted of corruption and money laundering on Wednesday, the most high-profile conviction yet in a sweeping graft investigation that has jailed dozens of the Latin American country's elite.

Trial judge Sergio Moro said the 71-year-old politician would remain free, however, given the possibility of appeal against the sentence. The benchmark Bovespa stock index rose to a session high. Lula was president between 2003 and 2010.

He left office with a 90% approval rating but was questioned by police about the corruption allegations in March 2016. "They're still very cheap", he said. Investors fear that another Lula presidency would mean a return to more state-directed and less business friendly economic policies.

"Over the past few months he has consolidated his position in opinion polls as the front-runner for the presidential race", the media outlet reports, "but he will become ineligible if his sentence is upheld on appeal".

Aston Martin Valkyrie is nearly production-ready
Much of what you see is actually the structure of the vehicle , so this had to be signed-off relatively early in the project. This is our first major look at the interior, which is suitably minimalist and World Sports Car racer-like.

If he cannot run, political analysts say Brazil's left would be thrown into disarray, forced to rebuild and somehow find a leader who can emerge from the huge shadow that Lula has cast on Brazilian politics for three decades.

Lula's two-terms were marked by a commodity boom that momentarily made Brazil one of the world's fastest-growing economies.

Lula da Silva still faces corruption, obstruction of justice and money laundering charges in four other court cases. The deeply unpopular sitting president has been slapped with formal corruption charges of his own after allegedly accepting millions of dollars in bribes from a Brazilian meatpacking corporation.

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