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The year in Foreign Corrupt Practices Act (FCPA) enforcement started off with a bang on January 10 with the announcement of a resolution of the outstanding SAP enforcement action. The...
[1] J&F, owned by two Brazilian brothers, controls JBS, the largest meatpacking company in the world. The brothers admitted to bribing Brazilian politicians in order to gain financing and other benefits for the company. The bribery scheme involved multiple subsidiaries of J&F, including Pilgrim’s Pride. The DOJ fined the company $256 million, but half of the full penalty amount was credited to fines paid to the Brazilian authorities. J&F now has extensive holdings in the US, and as equity analyst Marco Saravalle told The Wall Street Journal, [2] “The important thing about the company is ...