Brazil court upholds Lula conviction
Luiz Inacio Lula
PORTO ALEGRE  Brazil (Reuters) - A Brazilian appeals court upheld the corruption conviction of  former President Luiz Inacio Lula da Silva  on Wednesday  a major blow to the plans of the countryâs most influential politician to run for the presidency again this year.
The first two of three judges voted to uphold  Lula âs convictions on taking bribes and money laundering and agreed with the prosecutorsâ request to lengthen the prison sentence of Brazilâs first working-class leader  who remains free pending future appeals.
 Lula   72  could now be ineligible to stand for election under Brazilâs âFicha Limpaâ or âClean Recordâ law  which bans political candidates whose convictions are upheld by an appelate court. However  an electoral court must make the final ruling on a candidacy  and would only do so once a candidate had registered.
 Lula  can appeal Wednesdayâs decision to higher courts to delay a final decision  possibly avoiding jail and stringing the process out long enough to register  his  candidacy by the Aug. 15 deadline.
 Lula  is one of scores of powerful politicians and businessmen caught up in sweeping corruption probes that have wracked the Brazilian establishment since 2014.
 His  exclusion from the election would radically alter the political landscape ahead of a campaign in which  Lula  is the early favorite  with 36 percent of voter preferences according to pollster Datafolha. That is double the percentage of  his  nearest rival  the far-right congressman and former army captain Jair Bolsonaro  who has been energized by anti-Lula sentiment.
Brazilâs benchmark Bovespa stock index has risen 8 percent so far this year  propped up by expectations  Lula  will be barred from the election  clearing the way for a more market-friendly candidate who would stick to Brazilâs austerity agenda.
The Bovespa hit an all-time high on Wednesday as the first of three judges on the court began reading his decision  dismissing a series of arguments presented by  Lula âs lawyers.
 Former Brazilian President Luiz Inacio Lula da Silva  reacts as  he  arrives at the metallurgical trade union while the Brazilian court decides on  his  appeal against a corruption conviction that could bar  him  from running in the 2018 presidential race  in Sao Bernardo do Campo  Brazil January 24  2018. REUTERS/Leonardo Benassatto
 Lula  faces six other indictments in corruption cases ranging from receiving bribes from engineering firm Odebrecht to obstructing justice and trafficking  his  influence to obtain government decisions favoring the auto industry.
 He  is among over 100 people convicted in the âCar Washâ investigation  the most sprawling of Brazilâs numerous probes  focused on graft involving oil firm Petroleo Brasileiro and other state-run companies.
Speaking at a union rally on the outskirts of Sao Paulo on Wednesday   Lula  told the crowd  âI committed no crime.â
âThe only fair decision today would be a 3-0 ruling that I was wrongly convicted and sentenced â  Lula  said.
 Lula  was convicted of corruption and money laundering last year for accepting a beachside apartment from an engineering firm vying for contracts with the state oil company known as Petrobras.
Prosecutors said the apartment and its refurbishing was a bribe worth 3.7 million reais ($1.1 million).  Lula  maintains  he  never owned the penthouse apartment  criticizing prosecutors for relying on the plea bargain testimony of one witness  businessman Leo Pinheiro.
â His  word is not enough to incriminate  Lula  â Lulaâs lawyer Cristiano Zanin told the appeals court.
PORTO ALEGRE  Brazil (Reuters) - A Brazilian appeals court upheld the corruption conviction of  [TGT] on Wednesday  a major blow to the plans of the countryâs most influential politician to run for the presidency again this year.
The first two of three judges voted to uphold   [TGT]  âs convictions on taking bribes and money laundering and agreed with the prosecutorsâ request to lengthen the prison sentence of Brazilâs first working-class leader  who remains free pending future appeals.
 Lula   72  could now be ineligible to stand for election under Brazilâs âFicha Limpaâ or âClean Recordâ law  which bans political candidates whose convictions are upheld by an appelate court. However  an electoral court must make the final ruling on a candidacy  and would only do so once a candidate had registered.
 Lula  can appeal Wednesdayâs decision to higher courts to delay a final decision  possibly avoiding jail and stringing the process out long enough to register  his  candidacy by the Aug. 15 deadline.
  [TGT] is one of scores of powerful politicians and businessmen caught up in sweeping corruption probes that have wracked the Brazilian establishment since 2014.
  [TGT]   exclusion from the election would radically alter the political landscape ahead of a campaign in which   [TGT] is the early favorite  with 36 percent of voter preferences according to pollster Datafolha. That is double the percentage of   [TGT]   nearest rival  the far-right congressman and former army captain Jair Bolsonaro  who has been energized by anti-Lula sentiment.
Brazilâs benchmark Bovespa stock index has risen 8 percent so far this year  propped up by expectations   [TGT] will be barred from the election  clearing the way for a more market-friendly candidate who would stick to Brazilâs austerity agenda.
The Bovespa hit an all-time high on Wednesday as the first of three judges on the court began reading  [TGT]  decision  dismissing a series of arguments presented by   [TGT]  âs lawyers.
  [TGT] reacts as   [TGT]   arrives at the metallurgical trade union while the Brazilian court decides on   [TGT]   appeal against a corruption conviction that could bar   [TGT]   from running in the 2018 presidential race  in Sao Bernardo do Campo  Brazil January 24  2018. REUTERS/Leonardo Benassatto
  [TGT] faces six other indictments in corruption cases ranging from receiving bribes from engineering firm Odebrecht to obstructing justice and trafficking   [TGT]   influence to obtain government decisions favoring the auto industry.
  [TGT]   is among over 100 people convicted in the âCar Washâ investigation  the most sprawling of Brazilâs numerous probes  focused on graft involving oil firm Petroleo Brasileiro and other state-run companies.
Speaking at a union rally on the outskirts of Sao Paulo on Wednesday    [TGT] told the crowd  âI committed no crime.â
âThe only fair decision today would be a 3-0 ruling that I was wrongly convicted and sentenced â   [TGT] said.
  [TGT] was convicted of corruption and money laundering last year for accepting a beachside apartment from an engineering firm vying for contracts with the state oil company known as Petrobras.
Prosecutors said the apartment and its refurbishing was a bribe worth 3.7 million reais ($1.1 million).   [TGT] maintains   [TGT]   never owned the penthouse apartment  criticizing prosecutors for relying on the plea bargain testimony of one witness  businessman Leo Pinheiro.
â His  word is not enough to incriminate   [TGT] â Lulaâs lawyer Cristiano Zanin told the appeals court.