Thursday, 1 June 2017

Brazil meat-packing giant JBS to pay record $3.2bn corruption fine

The controlling shareholder of the world's largest meat-packing company, JBS, has agreed to pay a record 10.3bn real ($3.2bn; £2.4bn) fine for its role in Brazil's corruption scandals.

J&F Investimentos will pay under a leniency deal in two corruption investigations.

The payments will start in December and J&F will have 25 years to make them, prosecutors say.

The fine beats the $2.6bn paid by Brazilian building firm Odebrecht.

Brazil's President Michel Temer is in danger of being toppled thanks to testimony given by J&F's owners, Joesley and Wesley Batista, under a plea bargain.
The pair, who resigned from their board positions at the company last week, say they spent 600m real to bribe nearly 1,900 politicians in recent years.

BBC      News.