JBS SA parent company to pay $3.2 billion fine in corruption scandal

BBC News reports that Brazilian meatpacking giant will have to pay a record fine in a corruption scandal that may affect Brazil’s president, after testimony given by the company’s owners.

J&F Investimentos, the controlling shareholder of JBS SA, will pay a fine of 10.3 billion real. Brothers Joesley and Wesley Batista admitted as part of a plea bargain that they spent more than 600 million real to bribe more than 1,900 politicians in recent years. The two stepped down from their board positions at JBS SA, though Wesley remains the company’s CEO. Joesley Batista also gave prosecutors an audio tape - leaked to the press - where Brazilian president Michael Temer appears to condone bribing a witness. The president has denied any wrongdoing amid calls that he step down from office.

Source: BBC

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