[1] J&F, owned by two Brazilian brothers, controls JBS, the largest meatpacking company in the world.
The brothers admitted to bribing Brazilian politicians in order to gain financing and other benefits for the company. The bribery scheme involved multiple subsidiaries of J&F, including Pilgrim’s Pride. The DOJ fined the company $256 million, but half of the full penalty amount was credited to fines paid to the Brazilian authorities.
J&F now has extensive holdings in the US, and as equity analyst Marco Saravalle told
The Wall Street Journal,
[2] “The important thing about the company is that they have good operational assets and the executives are motivated to produce results for shareholders.”