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Brazil court injunction freezes 800 million reais of JBS' owner Joesley Batista
June 1, 2017 / 9:41 PM / 4 months ago

Brazil court injunction freezes 800 million reais of JBS' owner Joesley Batista

General view of Brazilian meatpacker JBS SA in the city of Jundiai, Brazil June 1, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - A Brazilian court on Thursday issued an injunction to freeze 800 million reais ($246 million) in banking accounts belonging to Joesley Batista, one of the owners of the world’s largest meatpacker, JBS SA (JBSS3.SA).

The federal court issued the injunction stating that the frozen funds may be used to repay allegedly ill-gotten gains in the foreign currency market one day before the disclosure on May 17 that Batista had reached a plea bargain with prosecutors in a sweeping graft probe. Batista’s accusations led to a corruption investigation of President Michel Temer. Brazilian securities watchdog CVM is probing the transactions.

Reporting by Tatiana Bautzer; Editing by Jonathan Oatis

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