Brazil Investigates Irregular BNDES Loans to JBS Meatpacking Giant

Loans by Brazil's Development Bank BNDES totaled R$8.1 billion from 2007 to 2011 and may have generated a loss of R$1.2 billion to the country.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Ministerio Publico Federal (Federal Prosecutor’s Office) in Brazil launched an investigation on Friday (May 12th) into irregular loans made by Brazilian Development Bank, BNDES, to the largest meat packing company in the world, Brazil’s JBS.

According to investigators the irregular loans may have totaled R$8.1 billion from 2007 to 2011.

Now the investigations conducted by federal police and dubbed Operação Bullish (Bullish Operation) show that the Subscribe to our Premium Membership Plan. Already Subscribed?