Well $20 billion is the lower estimate of what was stolen from Petrobras in the last 12 years. It's certainly much closer to $50 billion.
The $8 billion that disappeared in Iraq is certainly a very respectable sum, but whoever pocketed it are still rookies compared to the Workers' Party. The Cosa Nostra are rookies compared to the Workers' Party. They redefined what it means to be a crook, and the whole world of criminality is forever changed.
Give credit where credit is due...money 'lost' usually refers to expenses exceeded profits, so we 'lost' money. Among those 'expenses' a close examination may reveal payouts and such that are theft/embezzlement, etc. But the money left some sort of trail.
Now, this 8 billion is actually money that is just
lost. Like I had a quarter in my pocket earlier today and it might be in my couch cushions or maybe under the seat of the car, but I don't know where it is so it is
lost. Now, how does eight billion dollars just get that kind of
lost? I think that is awesome.
"Darn it Bob, where did you put that pallet of hundreds?"
"Ummm...I dunno. Jimmy needed the forklift and I just put it down... Umm... Did you look over by the break room?"
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To answer the opening question...Enron shareholders lost something like 75 billion
before the ultimate collapse defaulted on something close to another 75 billion in debts, and most of those losses and debts were ultimately determined to have resulted from fraud. I think Brazil needs more practice before they are ready for world record competition, but 20-50 billion at a whack is certainly respectable.