Brazilian meat executives have been fined nearly 27-million dollars for a multi-year bribery scheme that aided their U.S. market expansion.
JBS and J & F Investments, along with leaders Joesley and Wesley Batista have agreed to pay the fine after the U.S. Securities and Exchange Commission found they paid out nearly 150-million dollars in bribes which helped them acquire Pilgrim’s Pride Corporation in 2009. The SEC says the bribes were at the direction of the former Brazilian Finance Minister involving funds from both companies, which shared office space, accounting systems, and had overlapping board members and executives.
