Warning Comes on Anniversary of “Joesley Day” on May 17, 2017, When Owner of Global Meat Giant JBS Nearly Crashed Brazilian Economy, Sent Currency and Investors into Chaos
New York, NY (May 16, 2024) – Executive Director of Ban the Batistas, Kimberly Spell, issued the below statement ahead of “Joesley Day,” the day in 2017 when a leaked recording exposed the power, influence, and extent of JBS’ owners Joesley and Wesley Batistas’ corruption at the highest levels of Brazil’s government. May 17 marks the anniversary of the public discovering a conversation between Joesley Batista and former Brazilian President Michel Temer discussing the cover-up of their roles in the largest corruption scandal in the country’s history, sending economic shockwaves through Brazil, spurring public demonstrations, and causing the stock market to plunge nearly 9% and the Brazilian Real to plummet to its lowest value in 14 years.
“On Joesley Day, we are reminded of the grave consequences that the Batista brothers’ unchecked corporate power and corruption can have on an entire country’s economy and democracy. In 2017, the Batistas almost single-handedly wrecked Brazil’s economy, investment market, and currency value, impacting millions of investors and consumers. We must not let history repeat itself in the United States.
While we ‘celebrate’ Joesley Day, make no mistake that this is a somber recollection that the Batista brothers used bribery and government corruption as the foundational building blocks of JBS. That is no laughing matter. Rewarding the Batistas for that behavior would be just as outrageous. That’s why we urge the Biden administration and the SEC to celebrate Joesley Day by rejecting JBS’s request for an IPO and join our efforts to Ban the Batistas.
The safety and integrity of our American economic systems depend on our vigilance and willingness to act against the threat of handing power to corporate bullies with a penchant for corruption and corporate crimes.”
Ban the Batistas has launched a new webpage as a resource for media, lawmakers, and the general public to learn about the history of Joesley Day, featuring a comprehensive timeline of the Batista brother’s dangerous bribery, corruption, and climate crimes, and what’s at risk for American markets if their U.S. IPO plans succeed.
Joesley Day comes just weeks after shareholders voted to reinstate the Batista brothers to JBS’s board of directors, spurring protestors to gather outside the New York Stock Exchange in disapproval of this rigged move by JBS.
About Ban the Batistas
Ban the Batistas is an advocacy group fighting to protect American farmers, ranchers, consumers, and investors from the risks of a U.S. stock listing by JBS S.A. and the unchecked power grab by its majority shareholders, brothers Joesley and Wesley Batista. Learn more at banthebatistas.com.
Contact:
Katya Myagkova
