Netflix Confirms Original Series Based On Brazil Corruption Scandal

Netflix, Inc. NFLX confirmed on Friday it would start filming a new original series based on Brazil’s recent corruption scandal and the investigation of "Operacion Lava Jato (Operation Car Wash)" this year.

Operacion Lava Jato involves high-level politicians, public employees, businesspeople and even the country’s former President, Luiz Inácio Lula da Silva.

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Netflix’s series will be filmed in Brazil, and will launch in 2017, although it does not have an official title yet. José Padilha, who directed big hit series and movies like "Narcos," "Robocop" and "Tropa de Elite (Elite Squad)," will create and direct the series. Elena Soares will be in charge of the writing.

Padilha said, "This project will follow the judicial investigators in their journey to unveil the largest corruption scheme that Brazil has ever witnessed. It was fundamental for the series to be produced in an impartial way, and I have no doubt that Netflix is the best partner for the project."

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Erik Barmack, Netflix VP of International Original Content, added, "Netflix recognizes José Padilha's talent in turning fast-moving current events into compelling narratives and he is well placed to document this important time in Brazilian history."

Shares of Netflix were trading up roughly 1.15 percent on Friday afternoon.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.