JBS parent company agrees $3 billion fine with Brazilian authorities
31/05/2017
The fine has come as a penalty for JBS’s contribution to poor industry practice that came to light during wider federal police investigations earlier this year, centering on matters such as bribes paid to food inspectors.
In a statement, JBS said it had reached the agreement with the federal prosecutor’s office on May 30 and added that the parent company, rather than JBS, will pay the full amount. The fine is part of a plea-bargaining agreement that the company has reached with the authorities. Other penalties may still be added.
The owners of JBS have handed over recordings of conversations that allegedly implicate Brazil’s president, Michel Temer, and other senior figures in corruption. The scandal is ongoing.
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