RIO DE JANEIRO, BRAZIL - São Paulo-based J&F Investimentos, the controlling shareholder of JBS SA, pleaded guilty in federal court in Brooklyn to one count of conspiring to violate the Foreign Corrupt Practices Act (FCPA).
As part of the settlement agreement with the U.S. Department of Justice, it must pay fines of US$ 256 million (R$1.4 billion) — half of which will be discounted from hefty penalties it has already agree to pay to Brazilian authorities for the previously disclosed bribe payments.
In a related agreement, JBS said it would pay the U.S. Securities . . .