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More than $148 million was paid to officials at BNDES a state-controlled bank. Proceeds were used to purchase meat production companies throughout the world including in the U.S. Approximately $5 million was paid to executives of Petros a state-controlled pension fund that allowed a merger benefiting J&F. An additional $25 million was paid in bribes to Caixa a state-owned and controlled bank.
 The U.S. Department of Justice claimed jurisdiction since U.S. banks were used to facilitate bribery by processing transactions and effecting payments.
In Brazil, J&F paid a fine of $1.4 billion and was obliged to contribute $414 million to social projects. In view of the magnitude of the fines in Brazil, the Department of Justice reduced the $256 million penalty by half given cooperation by the company.
In a separate issue, JBS S.A. paid the Securities and Exchange Commission $26.9 million for contravention of SEC regulations.
On Tuesday October 13th, Pilgrim’s Pride Inc. a subsidiary controlled by JBS S.A. paid a fine of $110 million to settle allegations of collusion arising from a criminal investigation. A class action civil lawsuit will now proceed following intervention by the Department of Justice.
Details of the activities of the Batista brothers over the past three years were documented in a series of posts and can be retrieved by entering ‘Batista’ in the search block.
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