HAVANA TIMES – The Brazilian private investment firm J&F Investimentos, the parent company of the world’s largest meatpacker, pleaded guilty in a US court on Wednesday to paying around 150 million dollars in bribes to Brazilian officials over 12 years, reported dpa news.
Sao Paulo-based J&F’s director pleaded guilty on behalf of the company in the US federal court in Brooklyn.
He admitted to bribing officials in Brazil in order to obtain financing and other benefits. This violated the US Foreign Corrupt Practices Act, Acting Assistant Attorney General Brian Rabbitt said.
The company has agreed to pay more than 256 million dollars in fines as part of its plea agreement.
The Justice Department said the bribes were paid by company employees and agents to Brazilian government officials.
The money was passed partially through bank accounts based in the US, the statement added. The bribes were paid between 2005 and 2017.