Prosecutors in Brazil accuse JBS chairman and eight - leatherbiz: Lea Leatherbiz

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Prosecutors in Brazil accuse JBS chairman and eight others of financial crime

27/01/2016
Federal prosecutors in Brazil have accused nine executives linked to JBS, the largest producer of leather in the world, or to a former banking group called Banco Rural, of alleged financial crimes, Bloomberg has reported.

Those accused of the alleged crimes include JBS chairman, Joesley Mendonça Batista.

Quoting an official statement from federal prosecutors in São Paulo, Bloomberg said the full details of the alleged crimes have not been made public but that the accusations centre on an allegation that the two groups breached regulations in arranging loans valued at around $20 million in total to two of the 35 companies in the JBS group (neither linked to the leather business unit).

Bloomberg also quoted a statement from a part of the JBS Group that said it is confident it can prove the operations were not irregular.


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