Wednesday, November 1, 2023

Brazil’s courts clear Batista brothers

Brazil’s courts have cleared the Batista brothers who faced charges of insider trading.

The brothers hold controlling interest in JBS SA, the largest meat-packing business in the world.


In Canada it operates a large beef-packing plant at Brooks, Alberta. that it bought in 2013 after XL Foods was crippled by the largest beef recall in Canadian history related to E.Coli 0757 food-poisoning bacteria.


After that purchase, one of many deals JBS made, the brothers were convicted of bribing scores of politicians and officials to obtain loans that made its rapid rise in the North American and other markets.