Brazilian bribery scandal

Brazilian police made new arrests this week in an investigation into a meat scandal that erupted last year. This time the target of “Operation Weak Flesh” is laboratories accused of covering up salmonella in products from food giant BRF SA, also known as Brazil Foods.

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“The investigation showed…

The first U.S. audit of Brazil’s food safety system since Operation Weak Flesh exposed corruption in the South American nation’s meat industry fell short of being clean.

In transmitting the audit on Nov. 9, USDA’s Food Safety and Inspection Service (FSIS) told Brazil’s Ministry of Agriculture, Livestock and Food Supply (MAPA) that more work needs…

The Chinese symbol for crisis is made up of symbols for both danger and opportunity.

And the Brazilian meat packing giant JBS S.A. has certainly been in a crisis during most of 2017, but an investment banker with expertise in emerging markets says there is an opportunity now in JBS, especially in acquiring its bonds.…

As chief operating officer of JBS SA, Gilberto Tomazoni is second only to 84-year old founder Jose Batista Sobrinho at the world’s largest meatpacking company. The patriarch of the billionaire dynasty returned to JBS after Brazilian police jailed his sons Wesley and Joesley Batista for insider trading.

Jose Batista Sobrinho

The U.S. Department of Agriculture has suspended imports of all fresh beef from Brazil because of recurring food safety problems documented since March, when the agency began inspecting 100 percent of all meat from the South American country.

During his confirmation hearing 12 weeks ago, Agriculture Secretary Sonny Perdue said he thought an embargo against…

Beef brothers Joesley and Wesley Batista appear to be surviving the scandal that may bring down Brazilian President Michel Temer.  Shareholder challenges and reviews by U.S. regulators could still be ahead for the meatpackers in the near future.

However, their J&F Investments, the largest shareholder of worldwide meatpacker JBS SA, has agreed to pay a…