CEO of Brazil meatpacker JBS arrested over bribes

Wednesday, September 13, 2017

Police in Brazil have arrested the chief executive of the world’s largest meatpacker on suspicion of manipulating financial markets.
Police and a representative of meatpacking giant JBS say Wesley Batista was taken into custody today in Sao Paulo, Brazil.
Batista and his brother Joesley, the former chairman of JBS, have both entered plea bargain agreements in which they testified that JBS paid bribes to scores of politicians, including President Michel Temer. Temer denies wrongdoing.
But Wesley’s arrest related to suspicious trading in JBS shares and an unusual purchase of dollars by the company that resulted in large gains.
A warrant for Joesley’s arrest was also issued, but the executive has been in custody since Sunday. He turned himself in after questions arose about whether he had withheld information during his plea testimony.-AP