Brazilian Meatpacker to Pay $3.2 Billion to Settle Bribery Charges
The holding company of Brazilian meatpacker JBS SA has reportedly agreed to pay a $3.2-billion fine for the company’s involvement in a graft and bribery scandal involving more than 1,800 politicians, including President Michel Temer and former President Dilma Rousseff. J&F Investimentos, co-owned by brothers Joesley and Wesley Batista, will pay the fine to U.S. and Brazilian authorities over a period of 25 years. Joesley Batista stepped down as chairman and member of the JBS SA board of directors; Wesley Batista has resigned from the board but remains chief executive of the company. The Batistas purportedly told Brazilian federal prosecutors they had paid about $186 million in bribes to politicians, and JBS SA had already agreed to pay $183.8 million to settle its criminal liability for the bribes. See NPR, May 31, 2017.