Rio de Janeiro: Brazilian police arrested General Electric’s Latin America CEO Daurio Speranzini Junior on Wednesday as part of a probe into suspected fraud and corruption by multinational companies in the Rio de Janeiro state health system.

Speranzini, the former head of Philips Medical Systems in Brazil, was among 22 people arrested, including Frederik Knudsen, an executive at the Dutch company.

Police raided 44 sites, including the Brazilian headquarters of Philips and Johnson & Johnson, but not the offices of GE, the Rio prosecutors’ office said in a statement.

Code-named “Operation Resonance,” the probe was launched with the goal of dismantling a “suppliers’ cartel” accused of committing fraud to…

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