SAO PAULO (Reuters) - Brazil’s securities watchdog CVM has opened two probes into foreign exchange transactions by units of J&F Investimentos, which has been at the center of a corruption scandal.
The probes will investigate financial dealings by pulpmaker Eldorado Brasil Celulose SA and by a subsidiary of meatpacker JBS SA, Seara Alimentos Ltda. The transactions occurred before the release of a plea deal by J&F controlling shareholders, Joesley and Wesley Batista, with Brazilian prosecutors in a corruption probe.
Brazil’s securities watchdog is conducting 12 other investigations into possible irregularities by other J&F-controlled companies. Some of them relate to possible insider trading by JBS SA and Banco Original, CVM said in a statement.
Reporting by Tatiana Bautzer