agribusiness, Agriculture, beef, Brazil, Brazilian beef, chicken, China, food, insider trading, J & F Investimentos, JBS, JBS SA, Joesley Batista, meat, Meat Processing, Operation Car wash, overpopulation, Pilgrims, Plumrose USA, pork, Primo Smallgoods, prison, Sao Paulo, Soy, Temer bribery, Third world, Trump bailout, underdevelopment, USDA, Wesley Batista
So, when you see JBS exports of Brazilian beef to China apparently contributing to Amazon deforestation, this is a Brazilian company exporting from Brazil to China: https://miningawareness.wordpress.com/2019/08/24/chinese-demand-for-brazilian-beef-raises-amazon-deforestation-risk China has the world’s largest population and they must eat. Let’s stop playing like population growth doesn’t matter. Soy is also being exported from Brazil to China, although the exports have increased in the last year or two, apparently because of Trump’s tariffs blocking US sales to China.
“JBS S.A. is a Brazilian company that is the largest (by sales) meat processing company in the world, producing factory processed beef, chicken and pork, and also selling by-products from the processing of these meats. It is headquartered in São Paulo. It was founded in 1953 in Anápolis, Goiás. The company has 150 industrial plants around the world. J&F Investimentos is a 42% indirect shareholder in JBS S.A. J&F Investimentos is wholly owned by Joesley Batista and Wesley Batista. As of May 2017, JBS S.A. remains the world’s biggest meat producer.…” https://en.wikipedia.org/wiki/JBS_S.A.
This Brazilian company owns some US brands:
“JBS USA Holdings, Inc. is an American food processing company and a wholly owned subsidiary of JBS S.A. (B3:JBSS3), a Brazilian company that is the world’s largest processor of fresh beef and pork, with more than US$50 billion in annual sales as of 2017. The subsidiary was created when JBS entered the U.S. market in 2007 with its purchase of Swift & Company….Key people Andre Nogueira, (CEO)
Revenue US$27.8 billion (2017)
Number of employees 78,000+
Plumrose USA, Pilgrim’s, Primo Smallgoods…”
If Batisa were a US citizen he would be considered a “Hispanic” “minority”, even though Brazil speaks Portuguese.
“JBS, a Brazilian-owned company, received $22.3 million from the USDA farm bailout package of 2018 ” https://en.wikipedia.org/wiki/JBS_S.A.
Is JBS increasing meat exports from Brazil, all while getting corporate welfare in the United States?
From Wikipedia: “Joesley Batista
Joesley Batista (born 8 December 1972) is a Brazilian businessman. He is responsible for the expansion and internationalization process of JBS S.A., the largest meat-packing company in the world, and one of the main agribusiness companies in Brazil. He was listed in 2016 among the 70 main billionaires of Brazil by Forbes magazine.
Corruption and influence peddling Operation Car-Wash Temer bribery allegations
Insider trading investigation
He and his company are involved and plead guilty in several allegations of bribery. From September 2017 to October 2018, Brazilian Justice kept Mr. Batista on remand by illegal profit on the financial market.
In July 2016, Batista was included as a suspect in the investigations of Operation Car Wash. The Brazilian Federal Police charged him for alleged bribes made by his company, JBS S.A., to the former president of the Brazilian parliament Eduardo Cunha. The bribes were paid for the liberation of resources from the Fundo de Investimento do Fundo de Garantia do Tempo de Serviço (FI-FGTS).
On May 17, 2017, the newspaper O Globo published that Batista provided recordings made on March 7, 2017, of a dialog between he and the Brazilian president Michel Temer, where Batista represents that he was paying for the silence of Eduardo Cunha, who is currently in jail, and former target in the investigation. The news resulted in some protests and calls for Temer’s resignation, with the Brazilian stock market also facing a drop. On May 19, 2017, JBS admitted to paying bribes to the three Brazilian presidents Michel Temer, Dilma Rousseff and Luiz Inácio Lula da Silva, spanning the previous 14 years. All three presidents denied accepting bribes.
However, an audio recording appears to catching Temer green-lighting the Batistas to pay a monthly allowance to former House Speaker Eduardo Cunha in exchange for his silence. JBS told prosecutors they had paid a total of $123 million in bribes to Brazilian politicians in recent years. Batista was also rumored to have recorded senator and former presidential candidate Aécio Neves of a centre-right party requesting two million reais in bribes. The federal police filmed the payment passing to the senator’s cousin. The money was then tracked to the bank account of a company belonging to Zeze Perrella, a PSDB senator from Minas Gerais. The former head of CVM referred to testimony that asserted JBS had bribed 1,829 politicians. Temer alleged that JBS doctored the recording of him talking to Joesley Batista about trading shares, and accused the Batista of insider trading. JBS denied illegal trades.
Batista and JBS allegedly obtained funding from the BNDES as a result of this bribe of over R$10 billion at below-market interest rates. In return for his help making the recording, the Brazilian Federal Police set Batista, his brother and other directors of JBS S.A. free, with a penalty of R$225 million. Joesley Batista decided to move to the USA. The agreement obtained by the Batista brothers applies only to their physical persons. The Brazilian authorities are still negotiating the penalty to be applied to J&F, the holding company of JBS S.A.. Prior negotiations suggested that a penalty close to R$11 billion, an amount that was JBS’ holding company refused. As of May 22, CVM was demanding $3.4 billion from JBS as part of a promised leniency deal, according to the press. In May 2017, JBS retained law firm Baker McKenzie to negotiate possible criminal charges with the United States Department of Justice under the Foreign Corrupt Practices Act.
Prior to the release of the recordings, Batista and his brother Wesley Batista sold several shares of JBS S.A. and bought over USD 1 billion. The release of the recordings resulted in substantial reduction of the stock price of JBS S.A. shares and in the reduction of the value in the Brazilian Real. The Brazilian Securities Commission (“CVM”) is investigating the Batista brothers for insider trading.
On September 10, 2017 he was temporarily arrested by the Brazilan Federal Police at the request of Attorney General Rodrigo Janot. The request was accepted by Federal Supreme Court Justice Edson Fachin.
On September 13, 2017, he had the remand ordered by the 6th Criminal Federal Court of São Paulo by the use of insider information to profit in the financial market between April and May 17, 2017, the date of disclosure of information relating to the award-winning collaboration agreement signed between J&F executives and the Attorney General’s Office.
On March 9, 2018 Mr. Batista was released from the Federal Police’s jail in Sao Paulo, but he is not allowed to leave the country and his passport is retained by the Federal Police.
1. Último Segundo: 60 Mais Poderosos do Paiís (http://ultimosegundo.ig.com.br/os-60-mais-poderosos/joesley-bati sta/52129e7d26db567e47000001.html)
2. 70 maiores bilionários do Brasil em 2016 (https://www.forbes.com.br/listas/2016/08/70-maiores-bilionarios-do-bra sil-em-2016/)
3. Dono da JBS gravou Temer dando aval para comprar silêncio de Cunha, diz jornal (http://g1.globo.com/politica/n oticia/dono-da-jbs-gravou-temer-dando-autorizacao-para-comprar-silencio-de-cunha-diz-jornal.ghtml)
4. Pearson, Samantha; Megalhaes, Luciana (May 19, 2017). “Political Crisis Grips Brazil as Firm Admits to Bribing Nation’s Leaders” (https://www.wsj.com/articles/temers-fate-unsure-as-brazilians-consider-alleged-evidence-of-gr aft-1495216017). Wall Street Journal. New York City, United States. Retrieved May 20, 2017.
6. PF faz buscas na casa de Joesley Batista, da Friboi (http://politica.estadao.com.br/blogs/fausto-macedo/pf-faz-b uscas-na-casa-de-joesley-batista-da-friboi/)
7. Dono da JBS gravou Temer dando aval para comprar silêncio de Cunha, diz jornal (http://g1.globo.com/politica/n oticia/dono-da-jbs-gravou-temer-dando-autorizacao-para-comprar-silencio-de-cunha-diz-jornal.ghtml)
8. T. Lewis, Jeffrey (May 19, 2017). “Brazil Stocks, Currency Recover Somewhat After Temer-Related Plunge” (http s://www.wsj.com/articles/brazil-stocks-currency-recover-somewhat-after-temer-related-plunge-1495204091). Wall Street Journal. New York City, United States. Retrieved May 20, 2017.
9. Brazil’s President caught on tape greenlighting bribes to former House Speaker, says newspaper Will Michel Temer be impeached? (http://plus55.com/brazil-politics/2017/05/brazils-president-caught-on-tape) by “plus55” (2017)
10. Brazil: explosive recordings implicate President Michel Temer in bribery (https://www.theguardian.com/world/201 7/may/18/brazil-explosive-recordings-implicate-president-michel-temer-in-bribery) by Jonathan Watts, published in The Guardian (2017)
11. Pearson, Samantha; Magalhaes, Luciana (May 21, 2017). “Brazilian Bribery Allegations Escalate Clash Between Government, Businesses” (https://www.wsj.com/articles/brazilian-bribery-allegations-escalate-clash-between-gov ernment-businesses-1495404513). Wall Street Journal. New York City, United States. Retrieved May 22, 2017.
12. JBS pagou para conseguir aportes e financiamentos do BNDES, diz delação de Joesley Batista (http://g1.globo.c om/politica/operacao-lava-jato/noticia/jbs-pagou-para-conseguir-aportes-e-financiamentos-do-bndes-diz-delacao-de-joesley-batista.ghtml)
13. JBS pagará multa de R$ 225 milhões em acordo de colaboração premiada (http://g1.globo.com/economia/negoci os/noticia/jbs-diz-que-pagara-multa-de-r-225-milhoes-em-acordo-de-colaboracao-premiada.ghtml)
14. J&F não fecha acordo de leniência com o MPF (http://g1.globo.com/economia/noticia/jf-nao-fecha-acordo-de-leni encia-com-o-mpf.ghtml)
15. Freitas Jr., Gerson (May 23, 2017). “Batista Bonds Worst in Emerging Markets on JBS Debt Concerns” (https://w ww.bloomberg.com/news/articles/2017-05-23/batista-bonds-worst-in-emerging-markets-amid-jbs-debt-concerns). Bloomberg News. Archived (https://web.archive.org/web/20170524161427/https://www.bloomberg.com/news/arti cles/2017-05-23/batista-bonds-worst-in-emerging-markets-amid-jbs-debt-concerns) from the original on May 24, 2017. Retrieved May 29, 2017.
16. Godoy, Marcelo; Salomão, Alexa; Trevisan, Claudia (May 24, 2017). “JBS contrata advogados para se defender nos EUA” (http://economia.estadao.com.br/noticias/geral,jbs-contrata-advogados-para-se-defender-nos-eua,700 01810196) [JBS hires lawyers to defend itself in the U.S.]. O Estado de S. Paulo (in Portuguese). Archived (http s://web.archive.org/web/20170524093703/http://economia.estadao.com.br/noticias/geral,jbs-contrata-advogados-para-se-defender-nos-eua,70001810196) from the original on May 24, 2017. Retrieved May 29, 2017.
17. Brazil watchdog opens new probes into JBS-related insider trading (https://www.reuters.com/article/us-brazil-corr uption-jbs-regulator-idUSKCN18F0AT)
18. Joesley Batista and Ricardo Saud surrender to justice (http://veja.abril.com.br/politica/joesley-e-ricardo-saud-d a-jbs-se-entregam-a-policia/)
19. Federal Police arrest Wesley Batista in SP (https://g1.globo.com/sao-paulo/noticia/policia-federal-prende-wesl ey-batista-da-jf-em-sao-paulo.ghtml)
20. Federal Judge releases Joesley Batista; he must hand over his passport to the authorities (https://g1.globo.co m/politica/noticia/justica-de-brasilia-manda-soltar-joesley-batist”
Joesley Batista wikipedia page was last edited on 7 August 2019, at 16:55 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License: https://en.wikipedia.org/wiki/Joesley_Batista https://creativecommons.org/licenses/by-sa/3.0/
Top photo (cropped) of Batista licensed Creative Commons BY 2.0: https://commons.wikimedia.org/wiki/File:Joesley_Batista_presta_depoimento_na_Pol%C3%ADcia_Federal_em_SP_4_(cropped).jpg