Brazilian meatpacking company settles multiple investigations by US authorities


Society of Corporate Compliance and Ethics (SCCE)

CEP Magazine (January 2021) via JDSupra - January 11, 2021


Brazilís J&F Investimentos and JBS SA agreed to pay fines to the United States Department of Justice and the Securities and Exchange Commission for bribery and insider trading.[1] J&F, owned by two Brazilian brothers, controls JBS, the largest meatpacking company in the world.


The brothers admitted to bribing Brazilian politicians in order to gain financing and other benefits for the company. The bribery scheme involved multiple subsidiaries of J&F, including Pilgrimís Pride. The DOJ fined the company $256 million, but half of the full penalty amount was credited to fines paid to the Brazilian authorities.


J&F now has extensive holdings in the US...


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