New arrest at JBS as chief executive is taken into c - leatherbiz: Lea Leatherbiz

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New arrest at JBS as chief executive is taken into custody

13/09/2017
Following the arrest on September 10 of JBS owner Joesley Batista, his brother Wesley, chief executive of the packer and tanning group, was detained by police on September 13.

Reuters said Wesley Batista’s arrest is the result of an investigation into alleged insider trading. The two brothers reached a plea-bargain agreement with the Brazilian authorities in May, but the news agency said that arrangement is now “unravelling” owing to allegations that the Batistas gained from trading JBS shares just before news broke of their alleged roles in a major corruption scandal.

In a statement, JBS confirmed that Wesley Batista had been detained but said it had not yet had full access to the decision behind the arrest. It said it would keep shareholders and the wider market fully informed of developments.




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JBS owners charged with insider market trading 12/10/2017

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