• Pin It
  • Pin It

Brazil slaps $3.2 billion fine on meat-packing giant JBS

Jun 01, 2017, 8:05 AM EDT
J&F's owners, Joesley and Wesley Batista, admitted bribing politicians.
(Source: Fotos GOVBA/flickr)

Brazil has levied a fine of $3.2 billion on J&F Investimentos, the holding company of the world’s largest meat-packer JBS, after a massive corruption probe found the firm guilty of involvement in the country’s graft scandals.

J&F's owners, Joesley and Wesley Batista, who stepped down from the company’s board positions last week, have admitted under a plea bargain that they paid 600m real kickbacks to nearly 1900 politicians in recent years, writes the BBC.

The penalty, which beats the $2.6bn fine paid by Brazilian building firm Odebrecht in the same investigation, will be paid over a period of 25 years, notes NPR.

YOU MIGHT ALSO LIKE