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.

 

Issue 636

 

About The Author

For decades, manufacturers, distributors and retailers at every link in the food chain have come to Shook, Hardy & Bacon to partner with a legal team that understands the issues they face in today's evolving food production industry. Shook attorneys work with some of the world's largest food, beverage and agribusiness companies to establish preventative measures, conduct internal audits, develop public relations strategies, and advance tort reform initiatives.

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