In this file:


·         Brazil police say JBS owners 'profited' from inside information

·         Brazil prosecutors charge Batista brothers with insider trading


·         Federal Justice Suspends Part of J & F Leniency Agreement (With Google Translate)

·         BNDES rules out loan irregularities for JBS (With Google Translate)



Brazil police say JBS owners 'profited' from inside information


Reporting by Pedro Fonseca; Writing by Anthony Boadle and Tatiana Bautzer; Editing by Marguerita Choy, Reuters

October 10, 2017 


BRASILIA (Reuters) - Brazil’s police investigation into insider trading by the owners of the world’s largest meatpacker JBS SA (JBSS3.SA) has found that they made a profit by taking financial positions before details of their plea bargain deal with prosecutors became public, the head of the probe said on Tuesday.


Police chief Edson Garutti, told Globo News that brothers Joesley and Wesley Batista knew they had information that would impact the market and profited with trades with stocks and foreign currency before details of the plea deal and leniency agreement for the company were made public, on May 17.


The Batista brothers saved as much as 138 million reais ($44 million) by selling JBS stock before its 9.7 percent fall on the following day. JBS also bought dollar future contracts. The dollar rose 8.2 percent on the day after the details of the plea deal were made public.


In his plea bargain testimony, Joesley Batista accused President Michel Temer of endorsing bribes the company paid to politicians, setting off a crisis that led to corruption charges against the president.


The police report was handed to federal prosecutors, who will decide whether to file charges against the Batistas.


Federal prosecutors on Monday opened an investigation...





Brazil prosecutors charge Batista brothers with insider trading


Reporting by Lais Martins; Writing by Tatiana Bautzer; Editing by Jonathan Oatis, Reuters

October 10, 2017


SAO PAULO, Oct 10 (Reuters) - Brazilian prosecutors on Tuesday charged brothers Wesley and Joesley Batista, the controlling shareholders of JBS SA, the world’s largest meatpacker, with insider trading and market manipulation.


Prosecutors said in a statement that the Batistas carried out stock and foreign exchange transactions between March 31 and May 17 using information they had on the contents of their plea deal in a corruption case.


Prosecutors say the Batistas made a profit of 100 million reais ($32 million)...





Federal Justice Suspends Part of J & F Leniency Agreement

MPF requested review of the suspension, but judge maintained decision of September, when it conditioned approval of the agreement to a decision of the STF on the delations of executives of the group.



via Brazilian Times - 10/10/2017


With Google Translate


Judge Vallisney de Souza Oliveira decided to suspend part of the leniency agreement signed between the J & F group and the Federal Public Ministry (MPF). J & F is the holding company that brings together the businesses of the brothers Joesley and Wesley Batista, among them the JBS refrigerator.


The request to reverse the suspension of parts of the agreement was made by the Federal Public Ministry of the Federal District.


In the decision, the magistrate maintained a decision of September 11, when he suspended the leniency agreement that provides for possible benefits to employees and employees of the company who did not make an award.


According to the judge, that part of the agreement should remain suspended until Minister Edson Fachin of the Federal Supreme Court (STF) decides on the termination request of the awarding agreement of the executives of the company.


The judge understands that without a Supreme Court ruling on executions' allegations, there is no legal certainty to undo the suspension of the leniency agreement.


He considered that the new facts made public on the allegations, which were omitted by the Baptist brothers, required the re-evaluation of this item of agreement.


The remainder of the agreement, which provides for payment of a fine of R $ 10.3 billion over 25 years in exchange for J & F not being prosecuted by the Public Prosecutor's Office, is still valid, according to information from the Attorney General's Office in the Federal District.


Understand the case


The leniency agreement is the award-winning delusion of companies. In the case of J & F, the agreement frees companies from the Federal Police (FP) and MPF investigations in Greenfield, Sepsis, Cui Bono, Bullish and Carne Loaf operations. In exchange, the group agreed to pay a fine of $ 10.3 billion.




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BNDES rules out loan irregularities for JBS


by Ezequiel Pacheco, Toma TV News

Oct 10, 2017


With Google Translate


The president of the National Bank for Economic and Social Development (BNDES), Paulo Rabello de Castro, said on Monday, 9, that the bank "is not a nanny of entrepreneurs", commenting on possible irregularities in financing granted to the J & F group, target investigation in the Lava Jato operation of the Federal Police.


"We will have the FAT as the main source of funds, perhaps with an updated remuneration system, in view of the change in the Long-Term Interest Rate (TJLP) to Long-Term Rate (TLP)." In order to improve the assessment of possible lenders, the bank will go to New York next month, talk to rating agencies and try to take off its rating from Brazil.


"There certainly were no irregularities here, and when the bank puts money into a company, that banker has to take responsibility for using resources," Rabello de Castro told reporters. "We have to have complete availability in relation to the country."


"The PSC seems to have Captain Bolsonaro already in his ranks." And my job, in this turn of 2017 to 2018, is to recondition the bank so that it can give a stronger response in 2018.


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