German Efromovich, a majority shareholder of Avianca Holdings, said on Friday that he is innocent of alleged corruption under investigation by Brazilian prosecutors and hopes to win back control of the Colombian airline, Reuters reported. Efromovich and his brother, Jose, were placed under house arrest in Brazil earlier this week as part of the country’s massive Car Wash corruption probe. Protesting his innocence in a virtual press conference, Efromovich said he remained a willing investor in Avianca, as the air carrier undergoes a chapter 11 restructuring in the U.S. after filing for bankruptcy protection in May. Brazilian prosecutors have accused the brothers of laundering money and bribing public officials in order to land ship-building contracts with Transpetro, the logistics unit of Brazilian oil company Petrobras. The accusations are unrelated to Avianca.
