JBS shareholder fined billions in Brazil scandal
JBS shareholder fined billions in Brazil scandal
J&F Investimentos, the controlling shareholder of meat-packing company, JBS, is to pay a 10.3bn real ($3.2bn; £2.4bn) fine due to its involvement in Brazil’s recent meat corruption scandal.
The payments will start in December and it will pay under a leniency deal in two corruption investigations. Prosecutors have stated that the business will have 25 years to make the payment.
J&F’s owners, Joesley and Wesley Batista, who have now resigned from the board, gave a testimony under a plea bargain stating they spent 600m real to bribe almost 2,000 politicians over recent years.
An audio tape given to prosecutors by Joesley Batista was also leaked to the press which appears to reveal Brazil’s President Michel Temer condoning the bribing of a witness.
Temer admits that recording is real but, in a televised statement, he denied any wrongdoing.
He said: “I never authorised any payments for someone to be silent. I did not buy anyone’s silence. I fear no accusations.”
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