Brazilian Prosecutors Take Aim at JBS. When Will U.S. Do the Same?
Brazilian prosecutors agree with OCM’s position that meatpacking giant JBS is guilty of fraud that led to illegal loans from Brazilian state development bank BNDES. Through bribery, JBS secured the necessary funds to go on a spending spree buying up 40 rivals on four continents, including the U.S. JBS has admitted that but for these fraudulent loans, it wouldn’t have been able to take over the U.S. beef market. Now Brazilian officials are demanding $5 billion in damage compensation and fines.