J&F Investimentos

J&F Investimentos is a Brazilian holding company controlled by Wesley and Joesley Batista. It entered a corporate leniency agreement with Brazil’s Federal Prosecution Office on June 5, 2017, agreeing to pay 8 billion reais and contribute 2.3 billion reais to social projects over 25 years, with the amounts subject to inflation adjustments. Pilgrim’s Pride’s 2024 filing says the total fine was later reduced to 3.5 billion reais and that Brazil’s Supreme Federal Court suspended J&F’s obligation to make additional installment payments in December 2023 while considering a petition alleging possible enforcement-authority misconduct in making the agreement. The filing says the agreement otherwise remained in effect.^1–10

In May 2017, Reuters reported that Wesley and Joesley Batista testified that they had spent 600 million reais bribing nearly 1,900 politicians. J&F announced a 10.3-billion-real corporate leniency penalty, approximately $3.2 billion at the time, payable over 25 years with inflation adjustments.

On October 14, 2020, J&F Investimentos pleaded guilty in federal court in Brooklyn to conspiring to violate the U.S. Foreign Corrupt Practices Act. Its admitted scheme ran from 2005 through 2017. J&F agreed to a $256.5 million criminal penalty; U.S. authorities allowed credit of up to half that amount for qualifying payments under the Brazilian resolution.

J&F admitted promising or paying more than $148 million for Brazilian officials’ benefit to obtain BNDES financing, more than $4.6 million for a Petros pension-fund executive’s benefit to secure merger approval, and approximately $25 million to a senior legislative official to obtain Caixa financing. The scheme used New York bank accounts and included a Manhattan apartment transferred as a bribe.

Joesley Batista

Joint ultimate controller¹

Reuters, citing a Wall Street Journal report based on people familiar with a meeting, reported that JBS co-owner Joesley Batista met Trump in the Oval Office on August 20, 2026, and discussed whether additional Brazilian beef could help lower U.S. prices if an import tax were reduced. Trump announced the proposed import expansion the next day. Reuters said it could not independently verify the meeting account.^{1, 3–5, 8–18}

JBS

J&F entities together hold the controlling interests in JBS¹

JBS is a meatpacking company whose co-owner, Joesley Batista, was reported to have met Trump on August 20, 2026, and discussed Brazilian beef supply and import taxes. The report is attributed to the Wall Street Journal’s sources; Reuters said it could not immediately verify it.^{1, 5, 8–11, 13–36}

If two or more persons conspire either to commit any offense against the United States, or to defraud the United States, or any agency thereof in any manner or for any purpose, and one or more of such persons do any act to effect the object of the conspiracy, each shall be fined under this title or imprisoned not more than five years, or both.

18 U.S.C. § 371 — conspiracy; charged object: FCPA, 15 U.S.C. § 78dd-3 · Applicable to the October 14, 2020 corporate guilty plea^6–7

The SEC found that Wesley and Joesley Batista concealed the bribery arrangements from Pilgrim’s Pride’s accountants and auditors, knowingly caused inaccurate books and records, and violated Exchange Act Section 13(b)(5) and Rules 13b2-1 and 13b2-2. J&F and JBS also caused Pilgrim’s accounting and internal-control violations. In the settled administrative proceeding, JBS agreed to approximately $26.9 million in disgorgement and interest, and each brother agreed to a $550,000 civil penalty. The resolution required compliance improvements and three years of reporting.^8–9

No person shall knowingly circumvent or knowingly fail to implement a system of internal accounting controls or knowingly falsify any book, record, or account described in paragraph (2).

15 U.S.C. § 78m(b)(5) — Exchange Act § 13(b)(5) · Applicable during the conduct; SEC order dated October 14, 2020^{8, 10}

Additional documented facts

J&F Investimentos entered a corporate leniency agreement with Brazil’s Federal Prosecution Office in June 2017. Pilgrim’s Pride’s 2024 filing says J&F agreed in June 2017 to an 8-billion-real fine and 2.3 billion reais for social projects over 25 years, subject to inflation adjustments. The filing says the total fine was later reduced to 3.5 billion reais and Brazil’s Supreme Federal Court suspended J&F’s obligation to make additional installment payments in December 2023 after J&F petitioned over alleged misconduct by enforcement authorities. The company filing says the agreement otherwise remained in effect.

Documented connections

Wesley Batista →Joint ultimate controller¹

Joesley Batista →Joint ultimate controller¹

JBS →J&F entities together hold the controlling interests in JBS¹

J&F U.S. bribery case →Corporate guilty plea, October 14, 2020⁵

Trump’s Beef Import Plan: The Batista Brothers, Bribery Cases and a $5 Million Donation →Included in report^1–10

Sources and documents

AI generated report by Explorvia.com.