HOW AUSTRALIA’S BIGGEST MEAT COMPANY WAS BUILT ON CORRUPTION

On 25 April, ABC News carried a report claiming that that behind the food giant’s early expansion in Australia were bribes paid in Brazil, and 2 billionaire brothers willing to break the law to get what they want.  the business began in 1953 as a small butchery in regional Brazil, and a US$1.4 billion takeover of the US beef processor Swift made JBS a major player internationally in 2007.  It is alleged that its first two takeovers in Australia were fuelled by corruption and bribery in Brazil.  In the US, the JBS parent company has paid $256 million to settle a foreign bribery case while the business has also paid hundreds of millions of dollars more in fines and settlements over price-fixing rackets.  In addition, JBS has pledged to help save the Amazon rainforest but has faced repeated accusations of sourcing cattle from illegally deforested land in Brazil, and several supermarket chains in the UK have dropped products using beef from JBS in Brazil.

https://www.abc.net.au/news/2022-04-25/jbs-meat-company-australia-four-corners-investigation/100997044

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: