National Ag News
JBS parent to pay $3.2B to settle corruption probes in Brazil
Jun 1, 2017, 15:45 PM
by
System
The parent company for Brazilian meatpacking giant JBS has agreed to pay a fine of more than 3-billion-dollars for its role in a corruption scheme involving pension funds.
According to the Wall Street Journal, the penalty is in exchange for leniency in corruption investigations by Brazilian prosecutors. J & F, the holding company of JBS and other Brazilian businesses admitted to giving roughly $150 million, mostly in bribes, to Brazilian politicians. Repayment is scheduled to begin in December and the company will have 25 years to compete it.
