NY DAILY NEWS: Brazilian meatpacker in Trump bailout scandal may have been illegally courting U.S. i
A Brazilian meatpacking company under fire for raking in millions in farm subsidies from the Trump administration is hiding a federal investigation from potential investors in violation of U.S. law, New York Rep. Carolyn Maloney told financial regulators last week.
The Democratic vice chair of the House Financial Services Committee said in a Thursday letter to Securities and Exchange Commission Chairman Jay Clayton that American subsidiaries of Brazilian meat giant JBS have been securing financing from U.S. investors without disclosing that the SEC and the Justice Department are digging into the company’s affairs.
“JBS entities have been raising debt and equity financing from U.S. investors, but have not disclosed the DOJ and SEC investigations into potential (Foreign Corrupt Practices Act) violations,” Maloney said in the letter, which was obtained by the Daily News and has not been previously reported.
A spokesman for the SEC declined to comment.
Court records reviewed by The News and referenced by Maloney confirms JBS’s parent company is under investigation by the Justice Department and the SEC for alleged violations of the Foreign Corrupt Practices Act.
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