Brazilian Investment Co. Hit With $256M Fine For Bribery
Law360, New York (October 14, 2020, 6:44 PM EDT) -- Brazilian investment holdings company J&F Investimentos SA on Wednesday copped to a yearslong bribery scheme to curry business favor with government officials in Brazil and was ordered by a New York federal judge to pay a fine of more than $256 million.
During a virtual hearing with U.S. District Judge Margo Brodie, J&F's legal compliance director, Lucio Martins, pled guilty on the company's behalf to one count of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act.
Prosecutors say that between 2005 and 2017, São Paulo-based J&F — controlled by brothers Joesley and Wesley Batista — agreed to...
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