Author: Paula Limena Cury, a brand strategist, curious to see what is going to happen to all those great brands ran by this not very ethical businessman, worldwide
The actual government of Mr. Michel Temer is called for impeachment. This is the second time Brazil is heading to a painful process of political agony- in less than 18 months. This time, the crisis was triggered by the JBS major shareholder, Joesley Batista, incredibly sarcastic and cold-blooded during his plea bargaining, revealing to the justice that he had a bribe list of more than 500MM USD for more than 50 politicians, including the former president Dilma Roussef and the previous one, Lula da Silva and the participation of the lower house speaker Eduardo Cunha, with the acknowledgement and participation of actual president, besides the opponent in the Presidential Race- Aécio Neves.
The outrageous outcome of that is that most of their money, used for bribery and their internationalization to the United States and other countries were financed by BNDES the national development bank of Brazil, conducted by the above-mentioned authorities in exchange for outstanding privilege.
They also revealed the overrating of investments in Pension Funds- estimated in USD 2,5 Billion, that later helped them to finance their acquisition of some international operations in US and Australia. The Butchers Brothers had negotiated their bail – a USD 90MM amount, which was not even part of their loss as, with the upcoming news, the currency in Brazil had a historic devaluation of 8% and of course, they could be prepared previously, purchasing the same amount of the American currency through national banks.
Joesley is among the 70 millionaires in the Forbes ranking and is now in NY with his wife Ticiana Villas Boas, enjoying his wealthy life and freedom. He was allowed to leave the country by the brazilian justice in his private jet- arriving in New Jersey airport. This is someone who was one of the major protagonists of one of the biggest scandals of humanity in corruption, along with two other fortunes ranked in Forbes magazine: Mr. Eike Batista ( once the 7th richest man in Forbes ranking) and Mr. Marcelo Odebrecht (also in the ranking), currently in jail for the same reason.
Besides all of that, they say that all negotiations conducted in the US were Ethical and according to market regulations rules. What seems really hard to believe, as the money from BNDES and the pension funds was once used to expand their business almost 40 times since they started their operations in aggressive M&A operations during the latest 8 years.
Among many strong brands the holding has in US, Australia, Brazil and many other countries, some are really remarkable. I invite you all to check their website JBS in order to know all the business they financed with the money they took from Brazil, and take a moment to understand what means: “Making your world stronger”, the tagline at their website.
This is the worst and saddest news happening in Brazil and the whole country expects that a proper investigation will be conducted by the US justice and authorities, the IRS and the FBI.
You may access all the original declarations of Mr. Joesley Batista through the website:https://globoplay.globo.com/v/5884286/