JBS, the world’s largest meat producer, is controlled by billionaire brothers Joesley and Wesley Batista, notorious for their price manipulation, corruption, and corporate crimes.
THE BIDEN ADMINISTRATION MUST ACT NOW AND BLOCK THE JBS IPO
Who are the Batistas?
Brazilian billionaire brothers Joesley and Wesley Batista control JBS through their holding company, J&F Investimentos.
These corporate criminals have amassed their wealth through bribery, corruption, and widespread price manipulation, targeting American meat industries.
In 2020, they admitted guilt to foreign bribery charges, violating the U.S. Foreign Corrupt Practices Act, and forking out a staggering $256 million in fines.
In their homeland, they were at the heart of the “Operation Carwash” probe, confessing to $186 million in bribes to over 1,900 politicians. Despite serving time, they’ve staged a brazen comeback, now flaunting a net worth of $6 billion.
The swashbuckling meat tycoons who nearly brought down a government
How the strange case of a former president secretly taped by industry executives revealed where power lies in Brazil
READ ARTICLE
Americans have a beef with the cost of a burger
McDonald’s Big Mac combo meals are running close to $20 in some cities, leaving a bad taste in diners’ mouths.
READ ARTICLEAmerican families are struggling to foot the bill for JBS.
Meat products are driving grocery bills to record highs. With U.S. cattle supply at its lowest since 1951 and Brazilian imports on the rise, JBS wields unprecedented power over the cost of food at grocery stores and in the fast-food industry.
In the past four years, JBS and its subsidiaries have engaged in widespread price manipulation, amassing over $240 million in judgments and settlements for price-fixing and bid-rigging.
As JBS consolidates the market, independent cattle businesses are swallowed up, reducing competition and enabling price gouging, which spikes supermarket and fast food costs.
JBS, the world’s largest meat producer, is controlled by billionaire brothers Joesley and Wesley Batista, notorious for their price manipulation, corruption, and corporate crimes.
THE BIDEN ADMINISTRATION MUST ACT NOW AND BLOCK THE JBS IPO
Who are the Batistas?
Brazilian billionaire brothers Joesley and Wesley Batista control JBS through their holding company, J&F Investimentos.
These corporate criminals have amassed their wealth through bribery, corruption, and widespread price manipulation, targeting American meat industries.
In 2020, they admitted guilt to foreign bribery charges, violating the U.S. Foreign Corrupt Practices Act, and forking out a staggering $256 million in fines.
In their homeland, they were at the heart of the “Operation Carwash” probe, confessing to $186 million in bribes to over 1,900 politicians. Despite serving time, they’ve staged a brazen comeback, now flaunting a net worth of $6 billion.
The swashbuckling meat tycoons who nearly brought down a government
How the strange case of a former president secretly taped by industry executives revealed where power lies in Brazil
READ ARTICLE
Americans have a beef with the cost of a burger
McDonald’s Big Mac combo meals are running close to $20 in some cities, leaving a bad taste in diners’ mouths.
READ ARTICLEAmerican families are struggling to foot the bill for JBS.
Meat products are driving grocery bills to record highs. With U.S. cattle supply at its lowest since 1951 and Brazilian imports on the rise, JBS wields unprecedented power over the cost of food at grocery stores and in the fast-food industry.
In the past four years, JBS and its subsidiaries have engaged in widespread price manipulation, amassing over $240 million in judgments and settlements for price-fixing and bid-rigging.
As JBS consolidates the market, independent cattle businesses are swallowed up, reducing competition and enabling price gouging, which spikes supermarket and fast food costs.
A DIRE THREAT TO THE AMERICAN FINANCIAL SYSTEM
The JBS IPO could give the Batista family 90% control of JBS, limiting minority shareholders’ rights and granting them unprecedented control over nearly 20% of the U.S. meat market. U.S. lawmakers from both parties have called for scrutiny of JBS’s IPO plans due to its “long history of misleading corporate investors” and its acquisitions involving “habitual use of criminal practices.”
The IPO plans also aim to skirt securities laws, claiming that as a ‘foreign private issuer,’ JBS is “subject to disclosure obligations different from those of U.S. domestic registrants listed on the NYSE.”
The U.S. is JBS’s largest market and the cornerstone of its global strategy. JBS uses its influence to artificially inflate the cost of meat in the market and line their pockets. American families foot the bill at the checkout counters nationwide.
A DIRE THREAT TO THE AMERICAN FINANCIAL SYSTEM
The JBS IPO could give the Batista family 90% control of JBS, limiting minority shareholders’ rights and granting them unprecedented control over nearly 20% of the U.S. meat market. U.S. lawmakers from both parties have called for scrutiny of JBS’s IPO plans due to its “long history of misleading corporate investors” and its acquisitions involving “habitual use of criminal practices.”
The IPO plans also aim to skirt securities laws, claiming that as a ‘foreign private issuer,’ JBS is “subject to disclosure obligations different from those of U.S. domestic registrants listed on the NYSE.”
The U.S. is JBS’s largest market and the cornerstone of its global strategy. JBS uses its influence to artificially inflate the cost of meat in the market and line their pockets. American families foot the bill at the checkout counters nationwide.
It’s time to BAN THE BATISTAS
These actions only scratch the surface of the Batista threat. No federal violation, conviction, or fine will stop their illicit global power grab. American farmers can’t compete as JBS destroys livelihoods and raises prices.
The Biden Administration, SEC, DOJ, and Congress must ACT NOW to block the IPO and protect Americans from JBS and the Batista brothers.
A timeline of chaos, corruption, and corporate crimes.