By Fabio Teixeira
CALDIC, a global chemicals distributor majority-owned by U.S. private equity firm Advent International, is under investigation in Brazil for allegedly supplying a vast methanol smuggling racket, according to the company and official documents.
Last year, investigators busted what they called a $10 billion fuel fraud scheme involving gas stations run by Brazil’s largest crime syndicate, the First Capital Command (PCC), which illegally sold methanol as fuel.
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