A plea bargain that JBS owner Joesley Batista agreed with the authorities in Brazil earlier this year may be declared invalid and asset sales that JBS has agreed in recent months are under threat.
In a new twist in the saga in which the world’s largest producer of beef and of leather has been caught up for months, Mr Batista handed himself over to federal police on September 10. Reports say he spent the night of September 10 in custody in São Paulo before being transferred to federal capital Brasilia on September 11 for questioning.
A court ordered Mr Batista’s detention for at least five days pending a re-examination of a plea bargain he agreed in May. This followed an admission of involvement in corruption and the imposition of a fine of more than $3 billion.
Prosecutors asked for a re-examination of the agreement after new evidence of further involvement in corruption came to light.
Information courtesy of Leatherbiz