It is reported that the Batista brothers, Wesley and Joesley, who control JBS SA have been detained by police in Brazil following allegations of potential insider trading.
One of the brothers, Joesley, alongside one of the company’s executives, Ricardo Saud, surrendered themselves to police on Sunday, September 10, according to Reuters.
The arrests were ordered by Supreme Court Justice, Edson Fachin, following a request from Brazilian Prosecutor-General, Rodrigo Janot, Reuters added.
It is alleged that Janot sought the arrests after hearing a recording of Batista and Saud discussing crimes which were not covered in a previous plea bargain.
Meanwhile, police are also believed to have detained Wesley Batista on Wednesday, September 13 (today).
A police investigation is reportedly looking into whether the two brothers profited from financial market dealings during a leniency deal with prosecutors.
Earlier this year the President of Brazil, Michel Temer, was charged with taking multi-million dollar bribes in relation to the most recent meat scandal in the South American country – charges which he denied.
After news broke of the meat scandal in Brazil in March of this year, an investigation led to the discovery of widespread corruption and bribery of politicians.
Temer was reportedly charged in connection with taking bribes from one of the largest meat processors in the world, JBS SA – the company controlled by the Batista brothers.
As part of their plea-bargain testimony, executives of the company reportedly said that the president took bribes for resolving tax matters, freeing up loans from state-run banks and other matters.
Joesley Batista reportedly recorded a conversation with Temer in March, in which the president appears to condone bribing a potential witness, according to Reuters.
Meanwhile, Batista also accused Temer of negotiating millions of dollars in illegal donations for his Brazilian Democratic Movement Party, it added.